Omnicom Group Inc. (NYSE:OMC) Shares Sold by Argent Trust Co

Key Points

• Argent Trust Co reduced its stake in Omnicom Group by 63%, selling 15,383 shares and now holding 9,029 shares worth approximately $749,000.
• Omnicom Group announced a quarterly dividend of $0.70 per share, representing a 3.9% yield, scheduled for payment on October 10th.
• Recent analyst ratings show a consensus of moderate buy on Omnicom Group shares, with a consensus price target of $94.43.

Argent Trust Co reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 63.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,029 shares of the business services provider's stock after selling 15,383 shares during the quarter. Argent Trust Co's holdings in Omnicom Group were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. lifted its position in Omnicom Group by 153.8% in the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 143 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Omnicom Group by 708.8% during the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after purchasing an additional 404 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Omnicom Group by 230.2% during 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 during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Omnicom Group in the first quarter valued at about $43,000. 91.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OMC has been the subject of several recent research reports. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company reduced their target price 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. Citigroup reiterated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price 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, Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, June 23rd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Price Performance

NYSE OMC traded down $0.37 during mid-day trading on Thursday, hitting $72.58. The stock had a trading volume of 3,562,794 shares, compared to its average volume of 3,656,199. The firm's 50 day moving average is $72.48 and its 200 day moving average is $77.05. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. 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 capitalization of $14.06 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.44 and a beta of 0.94.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the company earned $1.95 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share 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. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.9%. 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.