Livforsakringsbolaget Skandia Omsesidigt Acquires 16,900 Shares of Omnicom Group Inc. $OMC

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Omnicom Group by 20.9% in the second quarter, acquiring an additional 16,900 shares, bringing its total to 97,618 shares valued at approximately $7,070,000.
• Omnicom Group recently reported strong quarterly earnings, with $2.05 EPS against an estimate of $2.02, and a revenue of $4.02 billion, surpassing expectations.
• The company announced a quarterly dividend of $0.70 per share, which translates to an annualized dividend of $2.80 and a yield of 3.7%, marking a dividend payout ratio of 40.17%.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 20.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 97,618 shares of the business services provider's stock after purchasing an additional 16,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.05% of Omnicom Group worth $7,070,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in shares of Omnicom Group by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 24,094 shares of the business services provider's stock valued at $2,074,000 after acquiring an additional 447 shares during the period. Man Group plc boosted its stake in Omnicom Group by 977.2% in the fourth quarter. Man Group plc now owns 49,822 shares of the business services provider's stock valued at $4,287,000 after acquiring an additional 45,197 shares during the last quarter. Royal Bank of Canada boosted its stake in Omnicom Group by 4.7% in the fourth quarter. Royal Bank of Canada now owns 429,393 shares of the business services provider's stock valued at $36,945,000 after acquiring an additional 19,101 shares during the last quarter. Toronto Dominion Bank boosted its stake in Omnicom Group by 1.2% in the fourth quarter. Toronto Dominion Bank now owns 87,032 shares of the business services provider's stock valued at $7,486,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Omnicom Group by 5.1% in the fourth quarter. Tidal Investments LLC now owns 36,071 shares of the business services provider's stock valued at $3,104,000 after acquiring an additional 1,764 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OMC. Wells Fargo & Company cut their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Finally, Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Price Performance

NYSE OMC opened at $76.15 on Friday. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The firm's 50 day moving average is $75.55 and its 200-day moving average is $75.46. The company has a market capitalization of $14.75 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the business posted $1.95 EPS. The company's quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is currently 40.17%.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.

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