Redwood Investment Management LLC Makes New Investment in Omnicom Group Inc. (NYSE:OMC)

Redwood Investment Management LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,614 shares of the business services provider’s stock, valued at approximately $264,000.

Other hedge funds have also recently made changes to their positions in the company. American International Group Inc. lifted its stake in Omnicom Group by 1,169.5% in the 4th quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock worth $416,263,000 after acquiring an additional 5,235,862 shares in the last quarter. Vanguard Group Inc lifted its stake in Omnicom Group by 24.9% in the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock worth $1,443,122,000 after acquiring an additional 4,228,195 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Omnicom Group by 6,842.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock worth $54,000 after acquiring an additional 3,917,700 shares in the last quarter. Norges Bank purchased a new stake in Omnicom Group in the 4th quarter worth about $158,391,000. Finally, Ceredex Value Advisors LLC purchased a new stake in Omnicom Group in the 1st quarter worth about $135,975,000.

OMC traded down $0.48 during midday trading on Wednesday, reaching $83.77. The company’s stock had a trading volume of 1,077,790 shares, compared to its average volume of 1,926,443. The stock has a market capitalization of $18.66 billion, a PE ratio of 14.57, a P/E/G ratio of 3.03 and a beta of 0.71. The firm has a fifty day simple moving average of $80.46. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $84.89.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. Omnicom Group had a return on equity of 44.01% and a net margin of 8.76%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm posted $1.14 EPS. The company’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Omnicom Group Inc. will post 5.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a $0.65 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.10%. Omnicom Group’s dividend payout ratio is currently 45.22%.

OMC has been the topic of several research reports. Barclays set a $24.00 target price on Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. BMO Capital Markets initiated coverage on Yelp in a research report on Wednesday, April 17th. They issued an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $79.13.

In other Omnicom Group news, Director Linda Johnson Rice sold 497 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $83.59, for a total value of $41,544.23. Following the completion of the sale, the director now owns 8,161 shares in the company, valued at approximately $682,177.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Wren sold 60,541 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total value of $4,833,593.44. The disclosure for this sale can be found here. Insiders sold a total of 70,354 shares of company stock valued at $5,642,219 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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