Bank of Montreal Can Cuts Holdings in Omnicom Group Inc. (NYSE:OMC)

Bank of Montreal Can lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 570,879 shares of the business services provider’s stock after selling 25,112 shares during the period. Bank of Montreal Can’s holdings in Omnicom Group were worth $51,362,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OMC shares. UBS Group increased their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Macquarie reiterated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.30.

Insider Activity

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 completion of the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Down 1.1 %

Shares of OMC opened at $100.65 on Thursday. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $104.80. The stock has a 50-day moving average price of $96.82 and a 200 day moving average price of $94.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market capitalization of $19.69 billion, a P/E ratio of 13.60, a P/E/G ratio of 2.38 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $3.85 billion during 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 was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 2.78%. The ex-dividend date is Friday, September 20th. Omnicom Group’s payout ratio is currently 37.84%.

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.