Acadian Asset Management LLC Cuts Position in Omnicom Group Inc. (NYSE:OMC)

Acadian Asset Management LLC decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 87.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,904 shares of the business services provider’s stock after selling 47,218 shares during the period. Acadian Asset Management LLC’s holdings in Omnicom Group were worth $617,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its position in Omnicom Group by 319.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after buying an additional 1,104,566 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Omnicom Group in the 4th quarter worth approximately $93,634,000. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 37.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Omnicom Group in the 2nd quarter worth $56,177,000. Finally, Morningstar Investment Services LLC raised its position in Omnicom Group by 98.7% in the 4th quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after purchasing an additional 595,746 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.6 %

Shares of NYSE OMC opened at $101.73 on Wednesday. The firm has a fifty day simple moving average of $95.88 and a two-hundred day simple moving average of $93.80. The firm has a market capitalization of $19.92 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $102.75.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the business posted $1.81 earnings per share. Omnicom Group’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.75%. Omnicom Group’s payout ratio is 37.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OMC shares. Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

About Omnicom Group

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.