Mn Services Vermogensbeheer B.V. Sells 2,200 Shares of Omnicom Group Inc. (NYSE:OMC)

Mn Services Vermogensbeheer B.V. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,800 shares of the business services provider’s stock after selling 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Omnicom Group were worth $6,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Trust Walden Corp raised its stake in Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after buying an additional 14,153 shares in the last quarter. Norden Group LLC purchased a new position in shares of Omnicom Group in the 1st quarter valued at approximately $1,860,000. Kodai Capital Management LP purchased a new position in shares of Omnicom Group in the 4th quarter valued at approximately $27,419,000. Truist Financial Corp boosted its position in shares of Omnicom Group by 4.8% during the fourth quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock valued at $40,097,000 after purchasing an additional 21,018 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its stake in Omnicom Group by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after purchasing an additional 595,746 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OMC. Macquarie reissued an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Finally, UBS Group upped their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Price Performance

OMC opened at $98.46 on Monday. The firm has a market cap of $19.28 billion, a PE ratio of 13.31, a P/E/G ratio of 2.24 and a beta of 0.95. The stock has a 50-day moving average price of $92.56 and a 200-day moving average price of $92.37. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.08. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the previous year, the company earned $1.81 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.84%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Omnicom Group Company 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.