Amundi Acquires 388,581 Shares of Omnicom Group Inc. $OMC

Key Points

• Amundi increased its Omnicom Group stake by 40% in the second quarter, acquiring 388,581 shares and bringing its holdings to 1.36 million shares valued at approximately $99.1 million. Institutional investors collectively own 91.97% of OMC.
• Analyst sentiment is mixed, with four Buy, five Hold and two Sell ratings; the stock has an overall “Hold” rating and an average price target of $99. Omnicom shares opened at $78.22, down 3.6%.
• Omnicom reported quarterly EPS of $2.65, slightly below estimates, while revenue rose 63.4% year over year to $6.56 billion. The company declared a quarterly dividend of $0.80, implying a 4.1% annualized yield.

Amundi grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 40.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,360,280 shares of the business services provider's stock after purchasing an additional 388,581 shares during the period. Amundi owned about 0.50% of Omnicom Group worth $99,067,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pure Financial Advisors LLC raised its holdings in Omnicom Group by 3.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider's stock valued at $325,000 after acquiring an additional 135 shares in the last quarter. Tranquilli Financial Advisor LLC increased its position in shares of Omnicom Group by 2.0% in the second quarter. Tranquilli Financial Advisor LLC now owns 7,610 shares of the business services provider's stock worth $554,000 after purchasing an additional 148 shares during the period. Wakefield Asset Management LLLP increased its position in shares of Omnicom Group by 2.6% in the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock worth $477,000 after purchasing an additional 149 shares during the period. Caldwell Trust Co raised its stake in Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider's stock valued at $50,000 after purchasing an additional 149 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in Omnicom Group by 39.1% in the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the topic of several analyst reports. Zacks Research lowered shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price for the company. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 target price on the stock. Wells Fargo & Company boosted their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $99.00.

Omnicom Group Stock Down 3.6%

Shares of NYSE:OMC opened at $78.22 on Thursday. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a market capitalization of $21.46 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company has a fifty day moving average of $83.21 and a 200-day moving average of $78.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts' consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business's revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. Omnicom Group's dividend payout ratio is presently 275.86%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Omnicom Group Company Profile

Omnicom Group Inc NYSE: OMC is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom's agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.

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