Millennium Management LLC Increases Stake in Omnicom Group Inc. (NYSE:OMC)

Millennium Management LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 73.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 768,328 shares of the business services provider’s stock after purchasing an additional 324,196 shares during the period. Millennium Management LLC owned about 0.39% of Omnicom Group worth $68,919,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of OMC. Jacobs Levy Equity Management Inc. increased its stake 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 purchasing an additional 1,104,566 shares during the period. 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 grew its position 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 worth $296,717,000 after buying an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $56,177,000. Finally, Morningstar Investment Services LLC grew its position in shares of 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 buying an additional 595,746 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now 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 can be accessed through the SEC website. In other news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Trading Down 0.3 %

Omnicom Group stock opened at $102.67 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The business’s fifty day simple moving average is $97.46 and its two-hundred day simple moving average is $94.37. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $104.80. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its earnings results 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 return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Omnicom Group Inc. will post 7.88 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 11th. Shareholders of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OMC. Macquarie reiterated an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Bank of America lifted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Finally, UBS Group lifted their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $106.30.

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.