Omnicom Group Inc. $OMC Shares Purchased by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management increased its Omnicom Group stake by 618% in the second quarter, bringing its holdings to 28,900 shares valued at approximately $2.1 million. Institutional investors and hedge funds collectively own 91.97% of the company.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year, but earnings of $2.65 per share fell slightly short of analyst expectations. The company announced a quarterly dividend of $0.80 per share, representing a 3.6% annualized yield.
• OMC shares opened at $88.32, near their 12-month high of $89.57. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $99.00.

Flputnam Investment Management Co. increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 618.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,900 shares of the business services provider's stock after buying an additional 24,875 shares during the quarter. Flputnam Investment Management Co.'s holdings in Omnicom Group were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after acquiring an additional 296 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID increased its holdings in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. EFG International AG purchased a new position in shares of Omnicom Group in the 4th quarter valued at approximately $28,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Omnicom Group in the 2nd quarter worth approximately $25,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company's stock.

Omnicom Group Stock Performance

OMC opened at $88.32 on Monday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $24.23 billion, a PE ratio of 76.14, a P/E/G ratio of 0.59 and a beta of 0.64. The firm has a 50 day moving average of $81.71 and a two-hundred day moving average of $78.24.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm's revenue was up 63.4% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. On average, analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group's payout ratio is currently 275.86%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price on the stock. Zacks Research downgraded shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Citigroup reduced their target price on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price target for the company. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $99.00.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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