Chesley Taft & Associates LLC Buys 3,925 Shares of Omnicom Group Inc. (NYSE:OMC)

Chesley Taft & Associates LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 20.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,295 shares of the business services provider’s stock after purchasing an additional 3,925 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Omnicom Group were worth $2,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OMC. Jacobs Levy Equity Management Inc. increased its holdings in Omnicom Group by 319.6% in the first 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 during the last quarter. Bank of New York Mellon Corp grew its stake in 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 valued at $296,717,000 after acquiring an additional 892,494 shares during the period. Los Angeles Capital Management LLC acquired a new position in Omnicom Group in the second quarter valued at about $56,177,000. Point72 Asset Management L.P. grew its stake in Omnicom Group by 88.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after acquiring an additional 546,577 shares during the period. Finally, Boston Partners grew its stake in Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

OMC opened at $101.48 on Wednesday. Omnicom Group Inc. has a 52-week low of $73.28 and a 52-week high of $104.80. The firm has a market capitalization of $19.87 billion, a PE ratio of 13.71, a PEG ratio of 2.38 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. The business’s 50-day simple moving average is $98.51 and its 200 day simple moving average is $94.74.

Omnicom Group (NYSE:OMC) last released its earnings results 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. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. Omnicom Group’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.76%. Omnicom Group’s payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of research firms have issued reports on OMC. JPMorgan Chase & Co. boosted their target price on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. UBS Group boosted their target price on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Macquarie reissued an “outperform” rating and issued a $110.00 target price 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.30.

Insider Buying and Selling

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Johnson Rice sold 488 shares of the company’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 value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.