LSV Asset Management Cuts Holdings in Omnicom Group Inc. (NYSE:OMC)

LSV Asset Management trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,880 shares of the business services provider’s stock after selling 14,320 shares during the period. LSV Asset Management’s holdings in Omnicom Group were worth $4,115,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OMC. Center For Asset Management LLC grew its holdings in shares of Omnicom Group by 2.6% in the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after acquiring an additional 107 shares during the period. Marino Stram & Associates LLC grew its holdings in Omnicom Group by 1.0% during the first quarter. Marino Stram & Associates LLC now owns 11,613 shares of the business services provider’s stock valued at $1,124,000 after purchasing an additional 110 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 119 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Omnicom Group by 18.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 119 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Omnicom Group by 2.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock valued at $594,000 after acquiring an additional 122 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OMC. Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. UBS Group boosted their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

Omnicom Group Stock Down 1.2 %

Shares of NYSE:OMC opened at $98.29 on Thursday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $102.13. The stock has a market cap of $19.25 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The business’s 50 day moving average is $95.02 and its 200 day moving average is $93.44. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. Sell-side analysts predict that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.85%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the firm’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 approximately $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.