Wellington Management Group LLP Sells 2,189,969 Shares of Omnicom Group Inc. $OMC

Wellington Management Group LLP trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 87.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,018 shares of the business services provider’s stock after selling 2,189,969 shares during the period. Wellington Management Group LLP owned 0.12% of Omnicom Group worth $23,525,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Omnicom Group in the 2nd quarter worth about $2,082,476,000. State Street Corp boosted its stake in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Omnicom Group in the second quarter worth about $914,156,000. Geode Capital Management LLC grew its holdings in Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after purchasing an additional 3,117,188 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Omnicom Group by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock valued at $512,927,000 after purchasing an additional 33,557 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 2.6%

Shares of NYSE OMC opened at $82.49 on Friday. The firm’s 50 day moving average price is $82.83 and its 200-day moving average price is $78.70. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company has a market cap of $22.63 billion, a PE ratio of 71.11, a P/E/G ratio of 0.71 and a beta of 0.65.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. Omnicom Group’s payout ratio is currently 275.86%.

Analyst Ratings Changes

OMC has been the topic of a number of analyst reports. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set 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 note on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.00.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.