Vanguard Group Inc. Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Vanguard Group Inc. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,090,019 shares of the business services provider’s stock after selling 151,932 shares during the quarter. Vanguard Group Inc. owned 0.12% of Omnicom Group worth $2,234,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norden Group LLC purchased a new position in shares of Omnicom Group in the first quarter worth $1,860,000. Arvest Investments Inc. purchased a new position in shares of Omnicom Group in the fourth quarter worth $1,969,000. Raymond James & Associates lifted its holdings in shares of Omnicom Group by 3.3% in the fourth quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after buying an additional 13,709 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Omnicom Group by 1,627.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after purchasing an additional 62,640 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Omnicom Group during the fourth quarter valued at $27,419,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 1.2 %

Shares of OMC traded down $1.09 during midday trading on Friday, hitting $91.00. The stock had a trading volume of 1,654,451 shares, compared to its average volume of 1,835,141. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $98.06. The firm has a market cap of $17.80 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95. 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 stock’s 50 day moving average is $91.78 and its 200 day moving average is $91.33.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior 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. As a group, analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s payout ratio is presently 37.84%.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the transaction, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OMC. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. Moffett Nathanson upped their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, March 28th. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. Finally, UBS Group upped 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus target price of $104.70.

Omnicom Group Company 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.