Omnicom Group Inc. (NYSE:OMC) Shares Sold by DnB Asset Management AS

DnB Asset Management AS cut its holdings in shares of Omnicom Group Inc. (NYSE:OMCGet Rating) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,816 shares of the business services provider’s stock after selling 1,064 shares during the period. DnB Asset Management AS’s holdings in Omnicom Group were worth $6,604,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NuWave Investment Management LLC bought a new stake in Omnicom Group during the 2nd quarter valued at $347,000. Bank of New Hampshire increased its holdings in shares of Omnicom Group by 44.9% during the second quarter. Bank of New Hampshire now owns 1,000 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 310 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of Omnicom Group by 31.8% during the second quarter. Foundations Investment Advisors LLC now owns 4,500 shares of the business services provider’s stock valued at $285,000 after purchasing an additional 1,085 shares in the last quarter. Bard Financial Services Inc. lifted its holdings in Omnicom Group by 17.3% in the second quarter. Bard Financial Services Inc. now owns 13,885 shares of the business services provider’s stock worth $883,000 after purchasing an additional 2,050 shares during the period. Finally, Offit Capital Advisors LLC bought a new position in Omnicom Group in the 1st quarter valued at about $216,000. 90.85% of the stock is owned by institutional investors.

Omnicom Group Trading Down 2.8 %

NYSE:OMC opened at $66.99 on Monday. The stock has a fifty day simple moving average of $68.89 and a 200 day simple moving average of $72.98. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 4.22 and a beta of 0.84. Omnicom Group Inc. has a 1-year low of $61.31 and a 1-year high of $91.61.

Omnicom Group (NYSE:OMCGet Rating) last announced its earnings results on Tuesday, July 19th. The business services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Omnicom Group had a net margin of 9.07% and a return on equity of 39.15%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. Sell-side analysts forecast that Omnicom Group Inc. will post 6.37 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 45.83%.

Analyst Ratings Changes

OMC has been the subject of a number of research analyst reports. Edward Jones lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Barclays upped their target price on Omnicom Group from $70.00 to $78.00 in a research report on Friday. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 23rd. Redburn Partners reissued a “neutral” rating on shares of Omnicom Group in a research note on Thursday, September 8th. Finally, Morgan Stanley decreased their target price on Omnicom Group from $84.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, June 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.70.

Insider Buying and Selling at Omnicom Group

In other news, VP Michael J. Obrien sold 18,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $70.47, for a total value of $1,268,460.00. Following the completion of the sale, the vice president now owns 131,118 shares of the company’s stock, valued at $9,239,885.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Company Profile

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Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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