Northern Trust Corp Sells 151,828 Shares of Omnicom Group Inc. $OMC

Key Points

• Northern Trust Corp has reduced its stake in Omnicom Group by 6.2%, selling 151,828 shares to own approximately 1.18% of the company, valued at $190.61 million.
• Several analysts have adjusted their ratings and price targets on Omnicom Group, with JPMorgan reducing its target from $104.00 to $96.00 and Barclays downgrading from "overweight" to "equal weight."
• Omnicom Group announced a quarterly dividend of $0.70 per share, set to be paid on October 10th, with a current dividend yield of 3.6%.

Northern Trust Corp trimmed its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,299,011 shares of the business services provider's stock after selling 151,828 shares during the quarter. Northern Trust Corp owned approximately 1.18% of Omnicom Group worth $190,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its stake in Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after purchasing an additional 200 shares during the period. Zions Bancorporation National Association UT bought a new position in Omnicom Group in the 1st quarter worth approximately $34,000. Gen Wealth Partners Inc bought a new position in Omnicom Group in the 1st quarter worth approximately $36,000. Versant Capital Management Inc boosted its stake in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after purchasing an additional 143 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after purchasing an additional 404 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

Shares of OMC stock traded up $0.62 on Wednesday, reaching $78.53. The company's stock had a trading volume of 3,655,914 shares, compared to its average volume of 3,634,701. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The stock's fifty day simple moving average is $73.97 and its 200-day simple moving average is $76.02. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. Omnicom Group's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. Analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is presently 40.17%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Wells Fargo & Company cut their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.