Federated Hermes Inc. Sells 41,180 Shares of Omnicom Group Inc. (NYSE:OMC)

Key Points

• Federated Hermes Inc. significantly decreased its stake in Omnicom Group by 96.2%, owning only 1,608 shares worth $133,000 after selling over 41,000 shares in the first quarter.
• Omnicom Group reported $2.05 earnings per share for the last quarter, exceeding estimates, and experienced a 4.2% year-over-year revenue growth, reaching $4.02 billion.
• The firm has declared a quarterly dividend of $0.70, yielding 3.8%, with payouts being managed at a 40.17% dividend payout ratio.

Federated Hermes Inc. decreased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 96.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,608 shares of the business services provider's stock after selling 41,180 shares during the period. Federated Hermes Inc.'s holdings in Omnicom Group were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Johnson Financial Group Inc. boosted its position in Omnicom Group by 153.8% in 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 in the last quarter. Versant Capital Management Inc boosted its position 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 buying an additional 143 shares in the last quarter. CoreCap Advisors LLC boosted its position 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 buying an additional 404 shares in the last quarter. Golden State Wealth Management LLC boosted its position in 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 buying an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Omnicom Group during the first quarter worth $43,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Up 0.6%

NYSE OMC traded up $0.48 during mid-day trading on Friday, reaching $75.89. 468,895 shares of the stock were exchanged, compared to its average volume of 3,642,552. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The stock has a 50 day simple moving average of $72.75 and a 200-day simple moving average of $76.53. The stock has a market cap of $14.70 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.52 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 (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.95 billion. During the same quarter last year, the firm earned $1.95 earnings per share. Omnicom Group's quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid 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 dividend payout ratio (DPR) is currently 40.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMC. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a report on Monday, June 23rd. Barclays lowered shares of 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 report on Wednesday, June 25th. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Finally, Wells Fargo & Company cut their price target on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.