Empowered Funds LLC Sells 67,314 Shares of Omnicom Group Inc. $OMC

Key Points

• Empowered Funds LLC significantly reduced its stake in Omnicom Group by 60.0%, selling 67,314 shares and now holds 44,815 shares valued at approximately $3.72 million.
• Omnicom Group's recent earnings report shows EPS of $2.05, exceeding expectations, with revenues of $4.02 billion, up 4.2% year-over-year.
• The company announced a quarterly dividend of $0.70 per share, resulting in a 3.6% yield, with an ex-dividend date set for September 2nd.

Empowered Funds LLC cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 60.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,815 shares of the business services provider's stock after selling 67,314 shares during the period. Empowered Funds LLC's holdings in Omnicom Group were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Zions Bancorporation National Association UT bought a new position in Omnicom Group during the first quarter worth about $34,000. Gen Wealth Partners Inc bought a new stake in shares of Omnicom Group in the first quarter valued at about $36,000. Versant Capital Management Inc lifted its holdings in shares of 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. Golden State Wealth Management LLC lifted its holdings in shares of 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 stake in shares of Omnicom Group in the first quarter valued at about $43,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

OMC opened at $77.14 on Friday. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The firm has a market capitalization of $14.94 billion, a PE ratio of 11.07, a PEG ratio of 1.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The business's 50-day simple moving average is $75.31 and its 200 day simple moving average is $75.61.

Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.95 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Omnicom Group's revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 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

A number of equities analysts have weighed in on the company. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Monday, June 23rd. JPMorgan Chase & Co. reduced their price target 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. Wells Fargo & Company reduced their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. Finally, Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

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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