Davis Capital Management Acquires Shares of 345 Omnicom Group Inc. (NYSE:OMC)

Davis Capital Management acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the third quarter, HoldingsChannel.com reports. The firm acquired 345 shares of the business services provider’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also bought and sold shares of OMC. Jacobs Levy Equity Management Inc. increased its stake in Omnicom Group by 319.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after purchasing an additional 1,104,566 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Omnicom Group in the fourth quarter worth approximately $93,634,000. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 37.0% in the second 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 acquiring an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Omnicom Group in the second quarter worth approximately $56,177,000. Finally, Morningstar Investment Services LLC grew its stake in shares of Omnicom Group by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after acquiring an additional 595,746 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

OMC opened at $102.04 on Thursday. 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 company has a market cap of $19.98 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.38 and a beta of 0.94. The company’s 50 day moving average is $98.12 and its 200 day moving average is $94.58. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $104.80.

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

Omnicom Group Dividend Announcement

The firm also recently declared 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 is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.74%. Omnicom Group’s payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of analysts have recently commented on OMC shares. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, UBS Group lifted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.30.

Omnicom Group 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.