Candriam S.C.A. Sells 7,896 Shares of Omnicom Group Inc. $OMC

Key Points

• Candriam S.C.A. reduced its stake in Omnicom Group Inc. by 11.0%, selling 7,896 shares, bringing its total holdings to 63,816 shares valued at approximately $5.29 million.
• Omnicom Group reported $2.05 earnings per share for its latest quarter, surpassing the consensus estimate of $2.02, and experienced a 4.2% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.70 per share, with an annualized yield of 3.6%, to be paid on October 10th.

Candriam S.C.A. decreased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,816 shares of the business services provider's stock after selling 7,896 shares during the quarter. Candriam S.C.A.'s holdings in Omnicom Group were worth $5,291,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OMC. Johnson Financial Group Inc. grew its position in Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after buying an additional 200 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group in the first quarter valued at about $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group during the first quarter worth about $36,000. Versant Capital Management Inc grew its holdings 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 during the period. Finally, CoreCap Advisors LLC grew its holdings 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 during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

Shares of Omnicom Group stock traded up $0.37 during midday trading on Wednesday, hitting $78.28. The company had a trading volume of 692,016 shares, compared to its average volume of 3,636,703. The business's 50 day simple moving average is $73.79 and its two-hundred day simple moving average is $76.00. The stock has a market cap of $15.16 billion, a PE ratio of 11.22, a P/E/G ratio of 1.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00.

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 firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.Omnicom Group's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $1.95 earnings per share. As a group, equities analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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

Analyst Upgrades and Downgrades

OMC has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price 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. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Monday, June 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and an average target price 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.