Omnicom Group Inc. $OMC Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Omnicom Group Inc. by 6.7% during the second quarter, now owning 105,788 shares valued at approximately $7.67 million.
• Omnicom Group's stock recently received mixed ratings from analysts, with JPMorgan reducing its price target to $96.00, while Wells Fargo upgraded their target to $91.00, indicating varying outlooks on the company's performance.
• The firm announced a quarterly dividend of $0.70, projected to yield 3.6% annually, with a dividend payout ratio of 40.17%.

KLP Kapitalforvaltning AS cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,788 shares of the business services provider's stock after selling 7,600 shares during the period. KLP Kapitalforvaltning AS owned 0.05% of Omnicom Group worth $7,673,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J2 Capital Management Inc acquired a new position in Omnicom Group during the second quarter worth $383,000. Golden State Wealth Management LLC lifted its stake in 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 in the last quarter. Goldman Sachs Group Inc. lifted its stake in Omnicom Group by 42.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider's stock worth $245,909,000 after purchasing an additional 887,415 shares in the last quarter. Fifth Third Bancorp lifted its stake in Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after purchasing an additional 913 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Omnicom Group during the first quarter worth $1,357,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on OMC shares. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Bank of America upgraded 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 cut Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Omnicom Group Stock Down 2.3%

Shares of NYSE OMC opened at $77.78 on Friday. The stock has a market cap of $15.07 billion, a P/E ratio of 11.16, a PEG ratio of 1.55 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The business's fifty day simple moving average is $76.77 and its 200-day simple moving average is $75.05.

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

Omnicom Group Announces Dividend

The firm also recently announced 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. 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 dividend payout ratio is 40.17%.

About Omnicom Group

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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