Mackenzie Financial Corp Acquires 1,370 Shares of Omnicom Group Inc. (NYSE:OMC)

Mackenzie Financial Corp increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,338 shares of the business services provider’s stock after acquiring an additional 1,370 shares during the quarter. Mackenzie Financial Corp’s holdings in Omnicom Group were worth $4,157,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Center For Asset Management LLC increased its position in Omnicom Group by 2.6% in the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after buying an additional 107 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Omnicom Group by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock worth $413,000 after buying an additional 119 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Omnicom Group by 18.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $70,000 after buying an additional 119 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Omnicom Group by 2.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock worth $594,000 after buying an additional 122 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Omnicom Group by 1.8% in the second quarter. Parallel Advisors LLC now owns 7,184 shares of the business services provider’s stock worth $644,000 after buying an additional 126 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 0.7 %

Shares of NYSE:OMC opened at $102.69 on Wednesday. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $104.80. The company has a market cap of $20.11 billion, a PE ratio of 13.88, a P/E/G ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The stock’s 50-day moving average is $97.90 and its 200 day moving average is $94.52.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share 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 the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Analyst Ratings Changes

A number of research firms have issued reports on OMC. UBS Group raised their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target on Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday. Macquarie reaffirmed an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, Bank of America lifted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $107.30.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 sale, 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 accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now 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.

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.