Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 18.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,552 shares of the business services provider’s stock after acquiring an additional 706 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Omnicom Group were worth $408,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its position 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 purchasing an additional 1,104,566 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Omnicom Group during the 4th quarter valued at $93,634,000. Bank of New York Mellon Corp increased its holdings in shares of Omnicom Group by 37.0% during 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 purchased a new position in shares of Omnicom Group in the 2nd quarter worth $56,177,000. Finally, Morningstar Investment Services LLC boosted its holdings in Omnicom Group by 98.7% in 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 acquiring an additional 595,746 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Omnicom Group stock opened at $102.61 on Thursday. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $103.58. 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 company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The firm’s fifty day moving average price is $96.11 and its 200 day moving average price is $93.87.

Omnicom Group (NYSE:OMC) last released its quarterly 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 analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts forecast that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced 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. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction 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 directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Linda Johnson Rice sold 488 shares of the firm’s 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 transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, UBS Group lifted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Omnicom Group Company 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.