Seven Eight Capital LP Sells 2,315 Shares of Omnicom Group Inc. (NYSE:OMC)

Seven Eight Capital LP decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,720 shares of the business services provider’s stock after selling 2,315 shares during the period. Seven Eight Capital LP’s holdings in Omnicom Group were worth $1,908,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OMC. FORVIS Wealth Advisors LLC bought a new stake in shares of Omnicom Group during the fourth quarter worth about $220,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Omnicom Group by 2,800.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,175 shares of the business services provider’s stock valued at $188,000 after acquiring an additional 2,100 shares during the last quarter. CX Institutional acquired a new position in shares of Omnicom Group during the fourth quarter worth $293,000. HB Wealth Management LLC grew its stake in shares of Omnicom Group by 21.4% in the fourth quarter. HB Wealth Management LLC now owns 3,342 shares of the business services provider’s stock worth $289,000 after purchasing an additional 588 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in Omnicom Group by 32.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,587 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 627 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 453 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now directly owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 0.6 %

Shares of NYSE:OMC traded up $0.54 during trading on Tuesday, reaching $92.29. 1,328,324 shares of the stock were exchanged, compared to its average volume of 1,622,394. The stock has a fifty day moving average of $91.68 and a two-hundred day moving average of $91.42. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $98.06. 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 firm has a market cap of $18.06 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.81 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OMC shares. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, March 28th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie reiterated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $104.70.

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.