Atria Wealth Solutions Inc. Sells 3,789 Shares of Omnicom Group Inc. $OMC

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Omnicom Group by 58.6%, selling 3,789 shares and holding 2,676 shares valued at $224,000 as of the latest SEC filing.
• Analysts have mixed ratings on Omnicom Group, with four analysts recommending a "hold" and four issuing a "buy," resulting in a consensus price target of $94.43.
• Omnicom Group announced a quarterly dividend of $0.70 per share, creating an annual dividend yield of 3.7% for its shareholders.

Atria Wealth Solutions Inc. cut its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 58.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,676 shares of the business services provider's stock after selling 3,789 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Omnicom Group were worth $224,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. grew its holdings in shares of Omnicom Group by 153.8% during 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 in the last quarter. Versant Capital Management Inc grew its stake in Omnicom Group by 45.7% in the first 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 in the last quarter. CoreCap Advisors LLC grew its stake in Omnicom Group by 708.8% in the fourth 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 in the last quarter. Golden State Wealth Management LLC grew 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 valued at $41,000 after purchasing an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group in the first quarter valued at approximately $43,000. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of analyst reports. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Bank of America upgraded 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. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. decreased 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. Four equities research 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, the company currently has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Stock Performance

Shares of NYSE OMC traded down $0.2430 during midday trading on Thursday, hitting $77.4670. 3,049,392 shares of the company's stock were exchanged, compared to its average volume of 3,311,291. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company's 50 day moving average price is $73.24 and its 200 day moving average price is $76.19. The firm has a market capitalization of $15.01 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.54 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 EPS for the quarter, topping the consensus estimate of $2.02 by $0.03. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. As a group, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

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

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.