Omnicom Group Inc. $OMC Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Omnicom Group Inc. by 4.6%, selling 78,398 shares during the first quarter, which left it owning approximately 1.6 million shares valued at $129.97 million.
• Several institutional investors, including Merit Financial Group and Golden State Wealth Management, have significantly increased their stakes in Omnicom Group, reflecting strong investor interest.
• Omnicom Group recently reported earnings of $2.05 EPS, exceeding analysts' expectations, and announced a quarterly dividend of $0.70 per share, representing a yield of 3.5%.

Amundi lowered its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,614,858 shares of the business services provider's stock after selling 78,398 shares during the quarter. Amundi owned 0.83% of Omnicom Group worth $129,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robinson Value Management Ltd. raised its position in shares of Omnicom Group by 0.4% in the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock worth $2,837,000 after buying an additional 139 shares during the period. Versant Capital Management Inc increased its stake in Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after acquiring an additional 143 shares during the last quarter. Mezzasalma Advisors LLC raised its holdings in shares of Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock worth $443,000 after purchasing an additional 159 shares during the period. Financial Advisors Network Inc. grew its holdings in shares of Omnicom Group by 6.1% during the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock worth $228,000 after purchasing an additional 159 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in Omnicom Group by 0.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock worth $1,834,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Up 2.4%

OMC traded up $1.86 on Thursday, reaching $77.86. The company's stock had a trading volume of 2,372,375 shares, compared to its average volume of 3,016,196. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The business's 50 day moving average is $75.26 and its 200 day moving average is $75.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The stock has a market cap of $15.08 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97.

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

Omnicom Group Dividend Announcement

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

Analysts Set New Price Targets

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

About Omnicom Group

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.