CarsonAllaria Wealth Management Ltd. Sells 357 Shares of Omnicom Group Inc. (NYSE:OMC)

CarsonAllaria Wealth Management Ltd. reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 13.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,382 shares of the business services provider’s stock after selling 357 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Omnicom Group were worth $214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC purchased a new stake in Omnicom Group during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new stake in Omnicom Group during the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Omnicom Group in the 2nd quarter valued at approximately $33,000. Finally, First United Bank & Trust purchased a new position in shares of Omnicom Group in the 4th quarter worth approximately $35,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group increased their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Macquarie restated an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Stock Down 0.7 %

NYSE OMC traded down $0.65 on Tuesday, reaching $96.26. 1,010,139 shares of the stock traded hands, compared to its average volume of 1,607,854. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $98.71. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.24 and a beta of 0.95. The company has a fifty day moving average price of $92.03 and a 200-day moving average price of $92.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results 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. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that Omnicom Group Inc. will post 7.92 EPS 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 2.91%. Omnicom Group’s payout ratio is 37.84%.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.