Federated Hermes Inc. Raises Holdings in Omnicom Group Inc. (NYSE:OMC)

Federated Hermes Inc. increased its position in Omnicom Group Inc. (NYSE:OMC) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,489 shares of the business services provider’s stock after acquiring an additional 10,778 shares during the quarter. Federated Hermes Inc.’s holdings in Omnicom Group were worth $3,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth about $26,000. Richardson Financial Services Inc. bought a new stake in Omnicom Group during the 4th quarter valued at $29,000. Innealta Capital LLC purchased a new stake in shares of Omnicom Group during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group in the second quarter worth $33,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Omnicom Group by 47.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

NYSE OMC opened at $102.61 on Thursday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $103.58. The company has a fifty day moving average of $96.11 and a 200-day moving average of $93.87. The company has a market capitalization of $20.09 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.27 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93.

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

Omnicom Group Announces Dividend

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 given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, September 20th. Omnicom Group’s payout ratio is currently 37.84%.

Insiders Place Their Bets

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the 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 owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Omnicom Group 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 value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, 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. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.