Advisor Partners II LLC Sells 205 Shares of Omnicom Group Inc. (NYSE:OMC)

12 Jan 2024, 13:56 by Mitch Edgeman · The Markets Daily

Advisor Partners II LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,797 shares of the business services provider’s stock after selling 205 shares during the period. Advisor Partners II LLC’s holdings in Omnicom Group were worth $1,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OMC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Omnicom Group by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,964 shares of the business services provider’s stock valued at $2,374,000 after acquiring an additional 1,284 shares during the last quarter. Aviva PLC increased its holdings in Omnicom Group by 27.0% in the 1st quarter. Aviva PLC now owns 81,054 shares of the business services provider’s stock valued at $6,880,000 after acquiring an additional 17,251 shares during the last quarter. Prudential PLC bought a new stake in Omnicom Group in the 1st quarter valued at $503,000. National Pension Service grew its stake in shares of Omnicom Group by 644.1% in the 1st quarter. National Pension Service now owns 407,387 shares of the business services provider’s stock worth $34,579,000 after buying an additional 352,639 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Omnicom Group in the 1st quarter worth $929,000. 92.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 3,300 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $76.57, for a total value of $252,681.00. Following the completion of the sale, the chief accounting officer now directly owns 30,014 shares of the company’s stock, valued at approximately $2,298,171.98. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Price Performance

OMC stock opened at $89.14 on Friday. The stock has a market cap of $17.64 billion, a PE ratio of 12.96, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.47. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a 50-day moving average price of $82.51 and a 200 day moving average price of $81.68.

Omnicom Group (NYSE:OMC – Get Free Report) last released its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.02. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a net margin of 9.62% and a return on equity of 40.01%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. Equities research analysts anticipate that Omnicom Group Inc. will post 7.39 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 22nd will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $2.80 annualized dividend and a yield of 3.14%. Omnicom Group’s dividend payout ratio (DPR) is 40.70%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Macquarie raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research note on Friday, January 5th. Citigroup dropped their price objective on shares of Omnicom Group from $113.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $103.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, October 6th. UBS Group assumed coverage on shares of Omnicom Group in a research note on Thursday. They issued a “buy” rating and a $117.00 price objective for the company. Finally, Morgan Stanley raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $100.00 in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $99.00.

Check Out Our Latest Analysis on OMC

Omnicom Group Profile

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