Driehaus Capital Management LLC Purchases New Position in Omnicom Group Inc. (NYSE:OMC)

Driehaus Capital Management LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,232 shares of the business services provider’s stock, valued at approximately $200,000.

Several other hedge funds also recently modified their holdings of OMC. Richardson Financial Services Inc. acquired a new stake in Omnicom Group during the 4th quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Omnicom Group during the 2nd quarter worth about $33,000. Innealta Capital LLC acquired a new position in Omnicom Group during the 2nd quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new stake in Omnicom Group in the 1st quarter valued at about $50,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of Omnicom Group in the first quarter worth about $52,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of 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 lifted 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 reaffirmed an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.30.

Omnicom Group Trading Up 0.7 %

Shares of NYSE:OMC opened at $103.39 on Tuesday. 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. The company has a market capitalization of $20.25 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. The company has a 50-day simple moving average of $97.69 and a 200 day simple moving average of $94.45.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 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 company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts forecast that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Omnicom Group Announces Dividend

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 issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the company’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 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. In other news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction 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. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.