US Bancorp DE Sells 11,625 Shares of Omnicom Group Inc. $OMC

US Bancorp DE trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,173 shares of the business services provider’s stock after selling 11,625 shares during the quarter. US Bancorp DE’s holdings in Omnicom Group were worth $5,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OMC. Pacer Advisors Inc. grew its stake in Omnicom Group by 17,506.1% during the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider’s stock worth $227,512,000 after buying an additional 2,728,494 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock valued at $595,147,000 after purchasing an additional 1,205,165 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock valued at $323,040,000 after purchasing an additional 1,199,725 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Omnicom Group by 1,836.5% during the first quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider’s stock valued at $89,114,000 after purchasing an additional 1,030,633 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Omnicom Group by 42.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock valued at $245,909,000 after purchasing an additional 887,415 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Down 1.4%

Shares of NYSE OMC opened at $76.50 on Monday. The company’s 50 day simple moving average is $76.88 and its 200 day simple moving average is $74.94. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The firm has a market capitalization of $14.82 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80.

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 the consensus estimate of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $1.95 earnings per share. Omnicom Group’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were given a $0.70 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Omnicom Group’s dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OMC shares. Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Finally, Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.29.

About Omnicom Group

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.