Omnicom Group Inc. (NYSE:OMC) Shares Sold by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC reduced its stake in Omnicom Group by 8.9%, holding 37,730 shares valued at approximately $3.13 million after selling 3,688 shares in the first quarter.
• Omnicom Group's recent earnings report revealed an EPS of $2.05, surpassing analyst estimates, with a 4.2% year-over-year revenue increase to $4.02 billion.
• The company announced a quarterly dividend of $0.70 per share, with a dividend yield of 3.8% and a payout ratio of 40.17% to be paid on October 10th.

Townsquare Capital LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,730 shares of the business services provider's stock after selling 3,688 shares during the period. Townsquare Capital LLC's holdings in Omnicom Group were worth $3,128,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OMC. Johnson Financial Group Inc. increased its position 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 valued at $29,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 purchasing an additional 143 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of 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 purchasing an additional 404 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Omnicom Group in the first quarter valued at approximately $43,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OMC shares. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Monday, June 23rd. Wells Fargo & Company dropped their price objective 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. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Citigroup reiterated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Trading Up 0.0%

NYSE OMC opened at $72.98 on Tuesday. 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 Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The stock has a market capitalization of $14.14 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.94. The firm has a 50 day moving average of $72.49 and a two-hundred day moving average of $76.64.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly 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. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.95 EPS. As a group, research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's payout ratio is currently 40.17%.

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.

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