Point72 Asia Singapore Pte. Ltd. Purchases Shares of 34,435 Omnicom Group Inc. (NYSE:OMC)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,435 shares of the business services provider’s stock, valued at approximately $3,089,000.

Several other institutional investors have also modified their holdings of the company. Boston Partners grew its holdings 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 acquiring an additional 383,560 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 37.0% in 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 purchasing an additional 892,494 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after purchasing an additional 165,136 shares during the last quarter. First Trust Advisors LP boosted its holdings in Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock worth $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 worth $215,249,000 after buying an additional 109,406 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC stock opened at $101.73 on Wednesday. The company has a market capitalization of $19.90 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.94. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $104.80. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The stock’s fifty day simple moving average is $96.82 and its 200-day simple moving average is $94.22.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. On average, sell-side analysts predict that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.75%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 approximately $1,524,738.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now 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 is available through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction 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 $1,524,738.75. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMC. Bank of America increased their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Macquarie reaffirmed an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, UBS Group increased their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.30.

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.