Omnicom Group Inc. $OMC Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc has decreased its stake in Omnicom Group Inc. by 41.1%, now holding approximately 286,486 shares valued at $20.6 million.
• Analysts have varied opinions on Omnicom Group, with Bank of America upgrading its rating to neutral and setting a price target of $80, while Wells Fargo raised theirs to $91.
• Omnicom Group reported strong quarterly earnings, with an EPS of $2.05, exceeding estimates, and a commitment to a quarterly dividend of $0.70 per share reflecting a 3.6% yield.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 41.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,486 shares of the business services provider's stock after selling 199,753 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.15% of Omnicom Group worth $20,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in Omnicom Group in the 1st quarter valued at about $34,000. Gen Wealth Partners Inc purchased a new stake in Omnicom Group in the 1st quarter valued at about $36,000. Ameritas Advisory Services LLC purchased a new stake in Omnicom Group in the 2nd quarter valued at about $34,000. Golden State Wealth Management LLC raised its holdings in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in Omnicom Group in the 1st quarter valued at about $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OMC shares. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Monday, June 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut 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. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Omnicom Group currently has an average rating of "Moderate Buy" and an average price target of $96.29.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $78.58 on Wednesday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a market cap of $15.22 billion, a PE ratio of 11.27, a P/E/G ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The business has a 50-day simple moving average of $77.09 and a 200-day simple moving average of $74.94.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts forecast 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 was paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. 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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