Elo Mutual Pension Insurance Co Sells 469 Shares of Omnicom Group Inc. (NYSE:OMC)

Elo Mutual Pension Insurance Co reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,617 shares of the business services provider’s stock after selling 469 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Omnicom Group were worth $1,580,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OMC. Boston Partners raised its holdings in shares of Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $296,717,000 after buying an additional 892,494 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after acquiring an additional 165,136 shares during the period. First Trust Advisors LP increased its holdings in shares of Omnicom Group by 7.7% during the 4th quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock worth $224,832,000 after acquiring an additional 186,562 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Macquarie reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Bank of America upped their target price on 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 lifted their price objective 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

Omnicom Group Stock Performance

NYSE:OMC opened at $102.30 on Friday. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $104.80. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock’s 50-day simple moving average is $96.52 and its 200 day simple moving average is $94.03. The firm has a market capitalization of $20.03 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) 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 analyst estimates of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. On average, analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed 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. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’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 transaction of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. 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.