Omnicom Group Inc. $OMC Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A significantly reduced its stake in Omnicom Group by 84.4%, selling 97,717 shares and retaining only 18,091 shares worth approximately $1.5 million.
• Vanguard Group and other major investors have increased their holdings in Omnicom Group, with Vanguard raising its position by 1.8%, now owning over 23 million shares worth nearly $1.95 billion.
• Omnicom Group recently announced a quarterly dividend of $0.70 per share, translating to an annualized dividend of $2.80 and a yield of 3.5%, with a payout ratio of 40.17%.

Credit Agricole S A reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 84.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,091 shares of the business services provider's stock after selling 97,717 shares during the period. Credit Agricole S A's holdings in Omnicom Group were worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Johnson Financial Group Inc. boosted 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 worth $29,000 after acquiring an additional 200 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Omnicom Group during the first quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the first quarter valued at $36,000. Versant Capital Management Inc raised its stake 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 acquiring an additional 143 shares during the period. Finally, CoreCap Advisors LLC raised its stake 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 acquiring an additional 404 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

NYSE OMC traded down $0.68 on Thursday, hitting $77.78. The company had a trading volume of 2,047,131 shares, compared to its average volume of 3,645,557. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a market capitalization of $15.07 billion, a PE ratio of 11.16, a PEG ratio of 1.55 and a beta of 0.94. The company's fifty day moving average price is $73.97 and its 200-day moving average price is $76.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on OMC shares. 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. Barclays downgraded 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 research report on Wednesday, June 25th. Wells Fargo & Company lowered 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 report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Omnicom Group currently has an average rating of "Moderate Buy" and a consensus price target 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.