Meeder Advisory Services Inc. Grows Stake in Omnicom Group Inc. (NYSE:OMC)

Meeder Advisory Services Inc. increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 42.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,761 shares of the business services provider’s stock after purchasing an additional 1,126 shares during the period. Meeder Advisory Services Inc.’s holdings in Omnicom Group were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Jacobs Levy Equity Management Inc. grew its stake in shares of 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 in the last quarter. Balyasny Asset Management L.P. purchased a new position in Omnicom Group in the fourth quarter worth about $93,634,000. Bank of New York Mellon Corp grew its position in Omnicom Group by 37.0% in 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 bought a new stake in Omnicom Group during the second quarter worth approximately $56,177,000. Finally, Morningstar Investment Services LLC raised its position 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 valued at $104,037,000 after purchasing an additional 595,746 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

Omnicom Group stock opened at $99.97 on Monday. 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 has a market cap of $19.58 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The firm has a 50-day moving average of $95.43 and a two-hundred day moving average of $93.62. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $102.13.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. Omnicom Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. On average, research analysts forecast 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. Stockholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.