National Bank of Canada FI Sells 8,109 Shares of Omnicom Group Inc. $OMC

National Bank of Canada FI trimmed its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,019 shares of the business services provider's stock after selling 8,109 shares during the quarter. National Bank of Canada FI's holdings in Omnicom Group were worth $7,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Omnicom Group by 42.1% during the 1st quarter. Citigroup Inc. now owns 430,864 shares of the business services provider's stock valued at $35,723,000 after acquiring an additional 127,749 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Omnicom Group by 12.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 350,196 shares of the business services provider's stock valued at $29,035,000 after acquiring an additional 38,181 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Omnicom Group by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider's stock valued at $270,235,000 after acquiring an additional 49,801 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Omnicom Group during the 1st quarter valued at $3,374,000. Finally, Vanguard Group Inc. lifted its position in shares of Omnicom Group by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider's stock valued at $1,945,629,000 after acquiring an additional 424,936 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OMC. Wells Fargo & Company cut their target price 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. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Bank of America upgraded 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. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Price Performance

Shares of NYSE OMC traded up $0.23 during midday trading on Monday, reaching $76.54. 369,715 shares of the company were exchanged, compared to its average volume of 3,639,152. The stock's 50-day moving average price is $72.84 and its 200-day moving average price is $76.31. The stock has a market cap of $14.83 billion, a P/E ratio of 10.98, a PEG ratio of 1.51 and a beta of 0.94. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. 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 (NYSE:OMC - Get Free Report) last posted 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. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.95 earnings per share. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share 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. Investors of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

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.