Renaissance Technologies LLC Purchases Shares of 17,900 Omnicom Group Inc. (NYSE:OMC)

Renaissance Technologies LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,900 shares of the business services provider’s stock, valued at approximately $1,606,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. acquired a new stake in shares of Omnicom Group during the fourth quarter worth approximately $29,000. Innealta Capital LLC acquired a new position in Omnicom Group in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group in the 2nd quarter worth $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 1st quarter valued at about $50,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Omnicom Group in the first quarter worth $52,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 approximately $1,524,738.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Omnicom Group Stock Performance

NYSE OMC opened at $101.02 on Friday. The firm’s fifty day moving average price is $98.28 and its two-hundred day moving average price is $94.62. The stock has a market cap of $19.78 billion, a PE ratio of 13.65, a PEG ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $104.80.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 7.88 EPS 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. Investors of record on Friday, September 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. Omnicom Group’s payout ratio is 37.84%.

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.