BNP Paribas Financial Markets Sells 118,861 Shares of Omnicom Group Inc. $OMC

Key Points

• BNP Paribas Financial Markets has reduced its stake in Omnicom Group by 15.2% during Q1, holding $55.10 million worth of shares after selling 118,861 shares.
• Omnicom Group's stock showed a 0.8% increase, opening at $78.34, with a market cap of $15.18 billion and a P/E ratio of 11.24.
• The company announced a quarterly dividend of $0.70, which represents a 3.6% yield, with a payout ratio of 40.17%.

BNP Paribas Financial Markets lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 15.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,570 shares of the business services provider's stock after selling 118,861 shares during the period. BNP Paribas Financial Markets owned about 0.34% of Omnicom Group worth $55,099,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Transamerica Financial Advisors LLC raised its position in shares of Omnicom Group by 19.7% in the 1st quarter. Transamerica Financial Advisors LLC now owns 12,832 shares of the business services provider's stock worth $1,064,000 after acquiring an additional 2,115 shares in the last quarter. Ieq Capital LLC raised its position in shares of Omnicom Group by 192.2% in the 1st quarter. Ieq Capital LLC now owns 18,239 shares of the business services provider's stock worth $1,512,000 after acquiring an additional 11,997 shares in the last quarter. Quadcap Wealth Management LLC raised its position in shares of Omnicom Group by 50.4% in the 1st quarter. Quadcap Wealth Management LLC now owns 12,693 shares of the business services provider's stock worth $1,052,000 after acquiring an additional 4,254 shares in the last quarter. Redwood Investment Management LLC raised its position in shares of Omnicom Group by 6.9% in the 1st quarter. Redwood Investment Management LLC now owns 20,630 shares of the business services provider's stock worth $1,710,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Keeley Teton Advisors LLC raised its position in shares of Omnicom Group by 1.1% in the 1st quarter. Keeley Teton Advisors LLC now owns 18,117 shares of the business services provider's stock worth $1,502,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Up 1.0%

OMC traded up $0.80 during trading on Thursday, hitting $78.33. 1,341,907 shares of the company's stock traded hands, compared to its average volume of 3,618,510. The company's 50 day simple moving average is $74.66 and its two-hundred day simple moving average is $75.87. The company has a current ratio of 0.92, a quick ratio of 0.80 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 stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.55 and a beta of 0.97.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the business posted $1.95 EPS. The company's revenue was up 4.2% compared to the same quarter last year. Analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm 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 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 (DPR) is currently 40.17%.

Analyst Ratings Changes

Several brokerages have recently issued reports on OMC. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. 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 note on Monday, June 23rd. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company cut their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.