Omnicom Group Inc. $OMC Stake Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 17.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,937 shares of the business services provider’s stock after selling 4,561 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Omnicom Group were worth $1,578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in shares of Omnicom Group in the second quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the 1st quarter worth approximately $34,000. Ameritas Advisory Services LLC acquired a new position in Omnicom Group in the 2nd quarter worth approximately $34,000. Gen Wealth Partners Inc purchased a new position in Omnicom Group during the 1st quarter worth approximately $36,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Omnicom Group during the 1st quarter worth approximately $43,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 2.0%

Shares of NYSE:OMC opened at $71.39 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.78 billion, a PE ratio of 10.55, a P/E/G ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $105.99. The firm has a fifty day moving average price of $75.94 and a 200 day moving average price of $74.90.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.5%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 19th. Omnicom Group’s dividend payout ratio is 41.36%.

Wall Street Analyst Weigh In

OMC has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays upped their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

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.