Omnicom Group Inc. (NYSE:OMC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,100,560 shares of the business services provider’s stock after purchasing an additional 72,447 shares during the quarter. Geode Capital Management LLC owned about 2.61% of Omnicom Group worth $525,960,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Omnicom Group in the second quarter worth $33,000. Northwest Investment Counselors LLC purchased a new stake in Omnicom Group during the 3rd quarter worth about $33,000. Davis Capital Management acquired a new stake in Omnicom Group in the 3rd quarter valued at about $36,000. HM Payson & Co. boosted its stake in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the period. Finally, Richardson Financial Services Inc. grew its position in shares of Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the subject of several analyst reports. UBS Group boosted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie reissued an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday. Wells Fargo & Company dropped their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays boosted their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $108.89.

Insider Activity

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

NYSE OMC opened at $90.16 on Friday. The firm has a market cap of $17.59 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $82.97 and a 52-week high of $107.00. The business’s 50-day moving average price is $102.03 and its 200 day moving average price is $97.29. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Omnicom Group’s dividend payout ratio is currently 38.25%.

Omnicom Group Company Profile

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.