ProShare Advisors LLC Buys 2,097 Shares of Omnicom Group Inc. (NYSE:OMC)

ProShare Advisors LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 37,980 shares of the business services provider’s stock after acquiring an additional 2,097 shares during the quarter. ProShare Advisors LLC’s holdings in Omnicom Group were worth $3,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in shares of Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 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 purchasing an additional 892,494 shares in the last quarter. Lazard Asset Management LLC raised its position in Omnicom Group by 6.3% in the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after purchasing an additional 165,136 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after purchasing an additional 186,562 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 in the company, valued at $1,524,738.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the 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 transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value 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. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $103.00 on Friday. The business has a 50-day moving average price of $97.00 and a two-hundred day moving average price of $94.27. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $104.80. 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 company has a market cap of $20.15 billion, a P/E ratio of 13.92, a PEG 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 during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, analysts anticipate that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.72%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group lifted their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Macquarie reiterated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, Bank of America increased their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. One investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.30.

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.