Allianz Asset Management GmbH Sells 155,218 Shares of Omnicom Group Inc. (NYSE:OMC)

Key Points

• Allianz Asset Management GmbH reduced its stake in Omnicom Group Inc. by 49.3%, selling 155,218 shares during the first quarter, and now holds 0.08% of the company valued at approximately $13.25 million.
• Other institutional investors, including Massachusetts Financial Services Co. and FMR LLC, significantly increased their positions in Omnicom Group during the fourth quarter, with a combined ownership of 91.97% among institutional investors.
• The company's stock is currently trading at around $76.41, with a dividend payout of $0.70 scheduled for October 10th, representing a 3.66% yield.

Allianz Asset Management GmbH reduced its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 49.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 159,827 shares of the business services provider's stock after selling 155,218 shares during the period. Allianz Asset Management GmbH owned about 0.08% of Omnicom Group worth $13,251,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OMC. Johnson Financial Group Inc. boosted its holdings in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc raised its position in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. CoreCap Advisors LLC raised its position in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of Omnicom Group in the first quarter valued at $47,000. 91.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on OMC shares. Citigroup reiterated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Wells Fargo & Company lowered their price target on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Trading Down 0.8%

OMC traded down $0.65 during trading on Friday, reaching $76.41. 2,112,530 shares of the company's stock were exchanged, compared to its average volume of 4,663,703. The company's fifty day moving average price is $72.72 and its 200-day moving average price is $77.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The firm has a market capitalization of $14.80 billion, a PE ratio of 10.96, a P/E/G ratio of 1.52 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the business earned $1.95 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company 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 3.66%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

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.