Omnicom Group Inc. (NYSE:OMC) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,676 shares of the business services provider’s stock after selling 1,542 shares during the period. 1832 Asset Management L.P.’s holdings in Omnicom Group were worth $2,001,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OMC. HHM Wealth Advisors LLC acquired a new stake in Omnicom Group during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new position in shares of Omnicom Group in the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. boosted its holdings in Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Omnicom Group during the fourth quarter valued at $29,000. Finally, First United Bank & Trust purchased a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 2.2 %

NYSE OMC traded up $2.08 during trading hours on Friday, reaching $95.43. The company had a trading volume of 2,018,439 shares, compared to its average volume of 1,741,401. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $18.67 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. The stock has a 50-day moving average of $91.38 and a 200 day moving average of $91.54. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $98.06.

Omnicom Group (NYSE:OMC) last issued 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. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, September 20th. Omnicom Group’s payout ratio is 37.84%.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The shares were 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 owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OMC. UBS Group upped their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Macquarie reiterated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Finally, StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

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.