Nissay Asset Management Corp Japan ADV Trims Stock Position in Omnicom Group Inc. $OMC

Key Points

• Nissay Asset Management Corp Japan ADV has reduced its stake in Omnicom Group Inc. by 12.5%, selling 4,324 shares and holding 30,143 shares valued at $2.5 million.
• Omnicom Group recently announced a quarterly dividend of $0.70, representing a 3.5% dividend yield and a payout ratio of 40.17%.
• Analysts have a consensus rating of "Moderate Buy" for Omnicom Group, with a current target price of $94.43.

Nissay Asset Management Corp Japan ADV cut its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,143 shares of the business services provider's stock after selling 4,324 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Omnicom Group were worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC lifted its position in Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after purchasing an additional 4,690 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Omnicom Group by 230.2% during 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 during the last quarter. Fifth Third Bancorp lifted its position in Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after purchasing an additional 913 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Omnicom Group during the first quarter valued at approximately $1,357,000. Finally, Asset Management One Co. Ltd. lifted its position in Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock valued at $6,755,000 after purchasing an additional 7,665 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Down 0.9%

Shares of NYSE OMC traded down $0.70 during mid-day trading on Friday, hitting $77.14. The stock had a trading volume of 3,292,519 shares, compared to its average volume of 3,030,801. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The business has a 50 day moving average price of $75.31 and a two-hundred day moving average price of $75.51. The firm has a market cap of $14.94 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97.

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. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm earned $1.95 earnings per share. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is presently 40.17%.

Wall Street Analyst Weigh In

OMC has been the subject of several research analyst reports. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. JPMorgan Chase & Co. decreased their price target 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. Finally, Wells Fargo & Company decreased 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 research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.