Omnicom Group Inc. (NYSE:OMC) Shares Sold by Argent Trust Co

Argent Trust Co reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 63.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,029 shares of the business services provider’s stock after selling 15,383 shares during the quarter. Argent Trust Co’s holdings in Omnicom Group were worth $749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Norges Bank purchased a new position in shares of Omnicom Group in the fourth quarter valued at $23,163,000. Franklin Resources Inc. increased its position in shares of Omnicom Group by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 256,131 shares of the business services provider’s stock valued at $22,038,000 after buying an additional 25,063 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Omnicom Group in the fourth quarter valued at $5,216,000. Aviva PLC increased its position in shares of Omnicom Group by 37.4% in the fourth quarter. Aviva PLC now owns 117,899 shares of the business services provider’s stock valued at $10,144,000 after buying an additional 32,073 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Omnicom Group in the fourth quarter valued at $13,204,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OMC. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Citigroup reissued a “buy” rating and set a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.43.

Omnicom Group Stock Up 1.3%

OMC stock opened at $72.03 on Tuesday. The stock has a market capitalization of $13.95 billion, a P/E ratio of 10.33, a PEG ratio of 1.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a 50 day moving average price of $72.54 and a two-hundred day moving average price of $77.11.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $2.02 by $0.03. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. Omnicom Group’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.95 EPS. As a group, sell-side analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is 40.17%.

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.