CCM Investment Advisers LLC Has $970,000 Stake in Omnicom Group Inc. (NYSE:OMC)

11 Oct 2024, 18:42 by Danessa Lincoln · The Markets Daily

CCM Investment Advisers LLC decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 5.8% during the third quarter, HoldingsChannel.com reports. The fund owned 9,383 shares of the business services provider’s stock after selling 575 shares during the period. CCM Investment Advisers LLC’s holdings in Omnicom Group were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OMC. Jacobs Levy Equity Management Inc. increased its holdings in shares of Omnicom Group by 319.6% during the 1st 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 acquiring an additional 1,104,566 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 37.0% in the 2nd 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. Los Angeles Capital Management LLC acquired a new stake in Omnicom Group in the 2nd quarter valued at approximately $56,177,000. Boston Partners grew its holdings in 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 buying an additional 383,560 shares during the last quarter. Finally, Scout Investments Inc. acquired a new stake in Omnicom Group in the 1st quarter valued at approximately $36,715,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $101.74 on Friday. The stock has a 50 day moving average of $98.81 and a two-hundred day moving average of $94.90. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group Inc. has a 12 month low of $73.28 and a 12 month high of $104.80. The company has a market capitalization of $19.91 billion, a P/E ratio of 14.07, a P/E/G ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $1.81 EPS. As a group, equities analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

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 given a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.75%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.73%.

Insider Buying and Selling

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 completion of the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 completion of the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the firm’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 value of $44,349.44. Following the transaction, the director now owns 10,356 shares of the company’s stock, valued at $941,153.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. UBS Group raised their target price on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $107.30.

Read Our Latest Stock Analysis on OMC

Omnicom Group Company Profile

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