Distillate Capital Partners LLC Acquires 175,718 Shares of Omnicom Group Inc. (NYSE:OMC)

Distillate Capital Partners LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 116,369.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,869 shares of the business services provider’s stock after purchasing an additional 175,718 shares during the quarter. Distillate Capital Partners LLC owned about 0.09% of Omnicom Group worth $15,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV raised its position in shares of Omnicom Group by 1.6% in the 2nd quarter. Resources Management Corp CT ADV now owns 55,326 shares of the business services provider’s stock valued at $4,963,000 after acquiring an additional 860 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Omnicom Group by 70.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,622 shares of the business services provider’s stock valued at $684,000 after purchasing an additional 3,159 shares during the period. DRW Securities LLC bought a new stake in shares of Omnicom Group in the second quarter valued at about $1,106,000. EverSource Wealth Advisors LLC boosted its position in shares of Omnicom Group by 30.7% during the second quarter. EverSource Wealth Advisors LLC now owns 588 shares of the business services provider’s stock worth $58,000 after buying an additional 138 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Omnicom Group by 2.5% during the second quarter. Epoch Investment Partners Inc. now owns 733,679 shares of the business services provider’s stock worth $65,811,000 after buying an additional 17,651 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

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

Shares of NYSE OMC opened at $102.31 on Tuesday. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $104.80. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market cap of $20.04 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 2.27 and a beta of 0.94. The stock’s fifty day moving average price is $96.69 and its two-hundred day moving average price is $94.15.

Omnicom Group (NYSE:OMC) last announced its earnings results 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. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm 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 business posted $1.81 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. 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 dividend payout ratio (DPR) is presently 37.84%.

Wall Street Analyst Weigh In

Several research firms have commented on OMC. 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. UBS Group boosted 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. Finally, Macquarie reiterated an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $106.30.

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.