Ascent Group LLC Cuts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Ascent Group LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,690 shares of the business services provider’s stock after selling 208 shares during the period. Ascent Group LLC’s holdings in Omnicom Group were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in OMC. Balyasny Asset Management L.P. acquired a new stake in Omnicom Group in the fourth quarter valued at $93,634,000. Morningstar Investment Services LLC boosted its holdings in Omnicom Group by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after buying an additional 595,746 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Omnicom Group by 88.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after buying an additional 546,577 shares in the last quarter. Junto Capital Management LP acquired a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $43,502,000. Finally, Scout Investments Inc. purchased a new stake in shares of Omnicom Group during the 1st quarter worth approximately $36,715,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 0.1 %

Shares of OMC traded up $0.05 during mid-day trading on Monday, hitting $95.48. The company had a trading volume of 1,696,201 shares, compared to its average volume of 1,628,806. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $98.06. 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 business’s 50-day simple moving average is $91.37 and its 200-day simple moving average is $91.61. The stock has a market cap of $18.68 billion, a PE ratio of 12.90, a P/E/G ratio of 2.25 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (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 business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.93%. Omnicom Group’s payout ratio is 37.84%.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 453 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the completion of the sale, the director now owns 9,830 shares of the company’s stock, valued at $911,044.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OMC has been the subject of several research reports. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Macquarie reiterated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.