Los Angeles Capital Management LLC Makes New $56.18 Million Investment in Omnicom Group Inc. (NYSE:OMC)

Los Angeles Capital Management LLC bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 626,280 shares of the business services provider’s stock, valued at approximately $56,177,000. Los Angeles Capital Management LLC owned 0.32% of Omnicom Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Candriam S.C.A. raised its position in Omnicom Group by 29.8% during the 2nd quarter. Candriam S.C.A. now owns 75,218 shares of the business services provider’s stock worth $6,747,000 after buying an additional 17,287 shares during the last quarter. Private Advisor Group LLC raised its holdings in Omnicom Group by 4.3% during the second quarter. Private Advisor Group LLC now owns 12,238 shares of the business services provider’s stock worth $1,098,000 after purchasing an additional 502 shares in the last quarter. Victory Capital Management Inc. lifted its position in Omnicom Group by 3.2% in the second quarter. Victory Capital Management Inc. now owns 513,349 shares of the business services provider’s stock valued at $46,047,000 after purchasing an additional 16,078 shares during the period. National Bank of Canada FI boosted its holdings in Omnicom Group by 23.3% in the 2nd quarter. National Bank of Canada FI now owns 55,959 shares of the business services provider’s stock valued at $4,907,000 after purchasing an additional 10,592 shares in the last quarter. Finally, Chase Investment Counsel Corp increased its position in Omnicom Group by 8.2% during the 2nd quarter. Chase Investment Counsel Corp now owns 4,540 shares of the business services provider’s stock worth $445,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Omnicom Group

In other news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated 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 directly owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 $1,524,738.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Omnicom Group Price Performance

OMC traded down $1.17 during midday trading on Friday, reaching $98.74. 1,063,385 shares of the company’s stock were exchanged, compared to its average volume of 1,567,487. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $102.13. The stock has a market capitalization of $19.34 billion, a PE ratio of 13.34, a P/E/G ratio of 2.36 and a beta of 0.94. 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 business’s 50-day moving average price is $94.40 and its 200 day moving average price is $93.19.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 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.