Ethic Inc. Reduces Stake in Omnicom Group Inc. (NYSE:OMC)

Ethic Inc. decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 20.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,228 shares of the business services provider’s stock after selling 11,537 shares during the period. Ethic Inc.’s holdings in Omnicom Group were worth $3,688,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC lifted its holdings in Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider’s stock worth $635,000 after purchasing an additional 4,690 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Omnicom Group by 13.9% during the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider’s stock worth $618,000 after purchasing an additional 913 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Omnicom Group during the 1st quarter worth about $1,357,000. Finally, Asset Management One Co. Ltd. lifted its holdings in Omnicom Group by 10.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider’s stock worth $6,755,000 after purchasing an additional 7,665 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $76.26 on Friday. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.51 and a beta of 0.94. 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 1-year low of $68.37 and a 1-year high of $107.00. The stock’s 50-day moving average is $72.84 and its 200 day moving average is $76.38.

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

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is presently 40.17%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OMC. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Monday, June 23rd. Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, Wells Fargo & Company lowered their price target on Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price 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.