Steel Grove Capital Advisors LLC Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

Steel Grove Capital Advisors LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 12.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,153 shares of the business services provider’s stock after selling 2,523 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Omnicom Group were worth $1,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Innealta Capital LLC purchased a new position in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Omnicom Group by 47.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Omnicom Group during the 1st quarter worth approximately $50,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.5 %

Shares of Omnicom Group stock opened at $102.30 on Monday. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $104.80. The firm has a market cap of $20.03 billion, a PE ratio of 13.82, a P/E/G ratio of 2.27 and a beta of 0.94. The business’s fifty day moving average is $96.52 and its two-hundred day moving average is $94.09. 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 issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently announced 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. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.