The Manufacturers Life Insurance Company Has $12.32 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

The Manufacturers Life Insurance Company boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 137,327 shares of the business services provider’s stock after buying an additional 1,421 shares during the period. The Manufacturers Life Insurance Company’s holdings in Omnicom Group were worth $12,318,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new position in shares of Omnicom Group during the 4th quarter valued at about $29,000. Innealta Capital LLC acquired a new position in Omnicom Group during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group in the second quarter valued at approximately $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group in the first quarter worth $50,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Omnicom Group during the 1st quarter worth $52,000. 91.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 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 filing with the SEC, which is available at the SEC website. In other news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction 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 sale, 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 is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated 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 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 Price Performance

NYSE:OMC opened at $101.02 on Friday. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.38 and a beta of 0.94. The company has a 50-day moving average of $98.28 and a 200-day moving average of $94.62. 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 released its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (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 firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Analyst Ratings Changes

A number of research analysts have weighed in on OMC shares. JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. 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, Bank of America upped 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.30.

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.