Omnicom Group Inc. $OMC Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 12.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,914 shares of the business services provider’s stock after selling 422 shares during the quarter. SageView Advisory Group LLC’s holdings in Omnicom Group were worth $242,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Merit Financial Group LLC raised its position in shares of Omnicom Group by 157.9% in the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider’s stock valued at $635,000 after buying an additional 4,690 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after buying an additional 343 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Omnicom Group by 13.9% in the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider’s stock valued at $618,000 after buying an additional 913 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Omnicom Group in the first quarter valued at about $1,357,000. Finally, Asset Management One Co. Ltd. raised its position in shares of Omnicom Group by 10.4% in the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider’s stock valued at $6,755,000 after buying an additional 7,665 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Trading Down 0.9%

Shares of OMC opened at $77.14 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The firm has a 50-day moving average price of $75.31 and a 200 day moving average price of $75.61. The firm has a market capitalization of $14.94 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.54 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. Omnicom Group’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio is currently 40.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Barclays lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. 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 report on Monday, June 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

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.