Omnicom Group Inc. $OMC Shares Sold by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in Omnicom Group Inc. by 54.3%, selling 560,660 shares and now holding 471,276 shares worth approximately $39 million.
• Omnicom Group's stock has a current market cap of $15.20 billion and has reported a year-over-year revenue increase of 4.2% with a quarterly EPS of $2.05.
• The company has announced a quarterly dividend of $0.70 per share, representing an annualized yield of 3.6%, with the next payment scheduled for October 10th.

Clark Capital Management Group Inc. decreased its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 54.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,276 shares of the business services provider's stock after selling 560,660 shares during the period. Clark Capital Management Group Inc. owned 0.24% of Omnicom Group worth $39,073,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC raised its position in Omnicom Group by 44.1% in the 4th quarter. AQR Capital Management LLC now owns 56,119 shares of the business services provider's stock valued at $4,829,000 after purchasing an additional 17,166 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Omnicom Group by 2.2% in the 4th quarter. Ameriprise Financial Inc. now owns 145,652 shares of the business services provider's stock valued at $12,550,000 after purchasing an additional 3,068 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Omnicom Group by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 12,604 shares of the business services provider's stock valued at $1,084,000 after purchasing an additional 593 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Omnicom Group in the 4th quarter valued at about $1,118,000. Finally, Crestline Management LP grew its stake in Omnicom Group by 157.0% in the 4th quarter. Crestline Management LP now owns 9,580 shares of the business services provider's stock valued at $824,000 after acquiring an additional 5,853 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Down 2.1%

Shares of OMC traded down $1.65 during mid-day trading on Wednesday, hitting $76.08. The company had a trading volume of 1,258,299 shares, compared to its average volume of 3,607,716. The business's 50-day simple moving average is $75.18 and its 200-day simple moving average is $75.70. 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 1-year low of $68.37 and a 1-year high of $107.00. The stock has a market cap of $14.74 billion, a PE ratio of 10.91, a P/E/G ratio of 1.57 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. Omnicom Group's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 earnings per share. Sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is 40.17%.

Analyst Ratings Changes

A number of brokerages recently commented on OMC. Wells Fargo & Company lowered their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research note on Monday, June 23rd. Finally, Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Omnicom Group currently has an average rating of "Moderate Buy" and a consensus price target of $94.43.

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.