Ballentine Partners LLC Sells 10,641 Shares of Omnicom Group Inc. $OMC

Key Points

• Ballentine Partners LLC reduced its stake in Omnicom Group by 56.3%, selling 10,641 shares and now owning 8,247 shares valued at approximately $593,000.
• Omnicom Group reported $2.05 earnings per share for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 4.2% to $4.02 billion.
• The company declared a quarterly dividend of $0.70 per share, yielding 3.6%, with an ex-dividend date set for September 2nd.

Ballentine Partners LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 56.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,247 shares of the business services provider's stock after selling 10,641 shares during the quarter. Ballentine Partners LLC's holdings in Omnicom Group were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OMC. Zions Bancorporation National Association UT bought a new stake in shares of Omnicom Group during the 1st quarter valued at about $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group during the first quarter worth about $36,000. Versant Capital Management Inc grew its holdings 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 in the last quarter. Golden State Wealth Management LLC grew its holdings 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 in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Omnicom Group during the first quarter worth about $43,000. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

NYSE OMC opened at $77.04 on Friday. The company has a 50-day simple moving average of $76.02 and a two-hundred day simple moving average of $75.16. 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 firm has a market cap of $14.92 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.51 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results 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. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on OMC shares. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $78.00 to $91.00 in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, Bank of America upgraded 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. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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.

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