Handelsbanken Fonder AB Lowers Stock Position in Omnicom Group Inc. $OMC

Handelsbanken Fonder AB lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,555 shares of the business services provider’s stock after selling 6,100 shares during the period. Handelsbanken Fonder AB’s holdings in Omnicom Group were worth $6,814,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group during the 4th quarter worth $26,000. Legacy Wealth Managment LLC ID increased its holdings in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new position in Omnicom Group during the 4th quarter worth about $28,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $87.45 on Friday. The company has a market cap of $23.99 billion, a P/E ratio of 75.39, a P/E/G ratio of 0.59 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $88.55. The business’s 50 day moving average is $79.20 and its two-hundred day moving average is $77.24.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 63.4% on a year-over-year basis. On average, equities analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is 275.86%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OMC. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Rothschild & Co Redburn started coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Citigroup lowered their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.