Amalgamated Bank Has $4.64 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

Amalgamated Bank grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,760 shares of the business services provider’s stock after buying an additional 10,840 shares during the period. Amalgamated Bank’s holdings in Omnicom Group were worth $4,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Center For Asset Management LLC raised its stake in Omnicom Group by 2.6% in the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 107 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Omnicom Group by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 119 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Omnicom Group by 18.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $70,000 after buying an additional 119 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Omnicom Group by 2.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock worth $594,000 after buying an additional 122 shares during the period. Finally, Parallel Advisors LLC grew its stake in Omnicom Group by 1.8% in the 2nd quarter. Parallel Advisors LLC now owns 7,184 shares of the business services provider’s stock valued at $644,000 after buying an additional 126 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction 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 transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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 the SEC website. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 sale, 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. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the subject of several research reports. Macquarie restated 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 lifted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One 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. According to data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $106.30.

Omnicom Group Stock Performance

OMC opened at $102.30 on Friday. The firm has a market cap of $20.03 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The business’s fifty day moving average is $96.52 and its 200-day moving average is $94.06. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $104.80. 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 announced 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 for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. Sell-side analysts expect that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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

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.