Advisors Asset Management Inc. Trims Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Advisors Asset Management Inc. reduced its stake in Omnicom Group by 19.3%, selling 13,176 shares, and now holds a total of 54,963 shares valued at $4.56 million.
• Omnicom Group has reported a quarterly earnings per share (EPS) of $2.05, beating analyst expectations, with revenues of $4.02 billion for the quarter.
• The company is set to pay a quarterly dividend of $0.70 per share on October 10th, representing an annualized rate of $2.80 and a dividend yield of 3.6%.

Advisors Asset Management Inc. lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 19.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 54,963 shares of the business services provider's stock after selling 13,176 shares during the period. Advisors Asset Management Inc.'s holdings in Omnicom Group were worth $4,557,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OMC. Pacer Advisors Inc. boosted its stake in shares of Omnicom Group by 17,506.1% in the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock worth $227,512,000 after acquiring an additional 2,728,494 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Omnicom Group by 20.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after acquiring an additional 1,205,165 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Omnicom Group by 44.5% in the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock worth $323,040,000 after acquiring an additional 1,199,725 shares during the period. Boston Partners boosted its stake in shares of Omnicom Group by 18.5% in the first quarter. Boston Partners now owns 4,882,041 shares of the business services provider's stock worth $402,598,000 after acquiring an additional 762,871 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Omnicom Group by 32.8% in the first quarter. JPMorgan Chase & Co. now owns 2,851,294 shares of the business services provider's stock worth $236,401,000 after acquiring an additional 704,275 shares during the period. Institutional investors own 91.97% of the company's stock.

Omnicom Group Trading Down 1.6%

Shares of NYSE:OMC traded down $1.23 during trading on Tuesday, hitting $77.71. The company had a trading volume of 2,789,628 shares, compared to its average volume of 3,621,875. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a fifty day simple moving average of $75.10 and a two-hundred day simple moving average of $75.68. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.95 EPS. As a group, equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

A number of equities analysts recently commented on OMC shares. Wells Fargo & Company dropped their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Monday, June 23rd. Finally, Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Omnicom Group presently has an average rating of "Moderate Buy" and an average price target of $94.43.

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.