Choreo LLC Cuts Stake in Omnicom Group Inc. (NYSE:OMC)

Choreo LLC trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 68.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,284 shares of the business services provider's stock after selling 6,983 shares during the quarter. Choreo LLC's holdings in Omnicom Group were worth $275,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of OMC. Johnson Financial Group Inc. lifted its holdings in shares of Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Omnicom Group by 45.7% during the first 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 last quarter. CoreCap Advisors LLC grew its holdings in shares of Omnicom Group by 708.8% during the fourth 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 last quarter. Golden State Wealth Management LLC grew its holdings in shares of 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 worth $41,000 after purchasing an additional 343 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of Omnicom Group during the first quarter worth about $47,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Down 1.3%

NYSE OMC traded down $0.94 on Friday, reaching $71.11. The company had a trading volume of 2,435,325 shares, compared to its average volume of 4,472,830. The stock has a market capitalization of $13.78 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.43 and a beta of 0.94. The company's fifty day moving average is $72.56 and its 200 day moving average is $77.32. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week 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 announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the firm posted $1.95 EPS. The business's revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate 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. Investors of record on Tuesday, September 2nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.9%. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on 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. JPMorgan Chase & Co. cut their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Bank of America raised 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. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group 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.