DoubleLine ETF Adviser LP Purchases 2,234 Shares of Omnicom Group Inc. (NYSE:OMC)

DoubleLine ETF Adviser LP boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,887 shares of the business services provider’s stock after purchasing an additional 2,234 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Omnicom Group were worth $2,322,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OMC. Jacobs Levy Equity Management Inc. raised its stake in Omnicom Group by 319.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after acquiring an additional 1,104,566 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Omnicom Group during the fourth quarter worth $93,634,000. Bank of New York Mellon Corp raised its stake in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after acquiring an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Omnicom Group during the second quarter worth $56,177,000. Finally, Morningstar Investment Services LLC raised its stake in Omnicom Group by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after acquiring an additional 595,746 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 sale, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on OMC shares. Macquarie restated an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, UBS Group raised their target price 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 given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Omnicom Group Price Performance

Shares of OMC opened at $100.65 on Thursday. 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 1 year low of $72.20 and a 1 year high of $104.80. The stock has a market cap of $19.69 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. The stock’s 50-day moving average price is $96.82 and its two-hundred day moving average price is $94.22.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business earned $1.81 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

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.