Sequoia Financial Advisors LLC Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

Sequoia Financial Advisors LLC trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,594 shares of the business services provider’s stock after selling 7,565 shares during the period. Sequoia Financial Advisors LLC’s holdings in Omnicom Group were worth $4,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in Omnicom Group in the first quarter worth about $1,860,000. Kodai Capital Management LP acquired a new position in Omnicom Group in the 4th quarter worth about $27,419,000. Truist Financial Corp raised its stake in Omnicom Group by 4.8% in the 4th quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock valued at $40,097,000 after purchasing an additional 21,018 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in shares of Omnicom Group by 98.7% in the fourth 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 period. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Omnicom Group in the first quarter valued at $1,534,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 488 shares of the firm’s 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 transaction, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on OMC. Moffett Nathanson boosted their price objective on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. UBS Group upped their target price on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays raised 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. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. Finally, StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.70.

Omnicom Group Price Performance

OMC traded up $0.30 on Tuesday, reaching $94.38. 246,285 shares of the company’s stock were exchanged, compared to its average volume of 1,612,253. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $98.71. The stock’s fifty day moving average price is $91.42 and its 200-day moving average price is $91.95. The stock has a market cap of $18.48 billion, a PE ratio of 12.71, a P/E/G ratio of 2.24 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The company 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%. Omnicom Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

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 given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s payout ratio is currently 37.84%.

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.