Kerusso Capital Management LLC Acquires Shares of 15,392 Omnicom Group Inc. (NYSE:OMC)

Kerusso Capital Management LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,392 shares of the business services provider’s stock, valued at approximately $1,381,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its position in Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after buying an additional 1,104,566 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Omnicom Group in the 4th quarter worth about $93,634,000. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new position in Omnicom Group during the 2nd quarter valued at about $56,177,000. Finally, Morningstar Investment Services LLC grew its holdings in Omnicom Group by 98.7% during the 4th quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after purchasing an additional 595,746 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In related news, 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 transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Linda Johnson Rice sold 488 shares of the company’s 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 completion of the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Trading Down 1.2 %

OMC opened at $98.74 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average is $94.40 and its two-hundred day moving average is $93.22. The company has a market capitalization of $19.34 billion, a P/E ratio of 13.34, a PEG ratio of 2.36 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $102.13.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OMC. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group boosted their price objective 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 objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.30.

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.