BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 13,877 Shares of Omnicom Group Inc. (NYSE:OMC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 58.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,509 shares of the business services provider’s stock after buying an additional 13,877 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Omnicom Group were worth $3,365,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. Boston Partners lifted its stake in Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after purchasing an additional 383,560 shares during the period. Bank of New York Mellon Corp lifted its position 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 period. Lazard Asset Management LLC lifted its position in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after buying an additional 165,136 shares during the period. First Trust Advisors LP boosted its stake in Omnicom Group by 7.7% in the 4th quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after buying an additional 186,562 shares in the last quarter. Finally, Cooke & Bieler LP grew its position in Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares during the period. 91.97% of the stock is owned by institutional investors.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 sale, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated 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 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 currently owned by company insiders.

Analysts Set New Price Targets

OMC has been the subject of a number of recent analyst reports. UBS Group increased 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. Bank of America lifted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.30.

Omnicom Group Stock Performance

OMC stock opened at $102.68 on Friday. The company has a 50 day moving average price of $97.22 and a 200 day moving average price of $94.33. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $104.80. 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 capitalization of $20.11 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $3.85 billion for 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%. The firm’s revenue for the quarter 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. Analysts forecast that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

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.