Raymond James Financial Inc. Lowers Holdings in Omnicom Group Inc. $OMC

Key Points

• Raymond James Financial Inc. has reduced its stake in Omnicom Group by 2.3%, holding 900,861 shares valued at approximately $74.7 million.
• Multiple institutional investors have adjusted their positions in Omnicom, with Johnson Financial Group Inc. increasing their stake by 153.8%.
• Omnicom Group reported earnings of $2.05 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.70 per share, reflecting a yield of 3.6%.

Raymond James Financial Inc. reduced its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 900,861 shares of the business services provider's stock after selling 21,049 shares during the quarter. Raymond James Financial Inc. owned 0.46% of Omnicom Group worth $74,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. boosted its holdings in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Omnicom Group in the first quarter valued at approximately $34,000. Gen Wealth Partners Inc bought a new stake in Omnicom Group in the first quarter valued at approximately $36,000. Versant Capital Management Inc increased 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 worth $38,000 after buying an additional 143 shares during the period. Finally, CoreCap Advisors LLC increased 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 worth $40,000 after buying an additional 404 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on OMC. JPMorgan Chase & Co. decreased their target price 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. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company dropped their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Finally, Bank of America upgraded 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. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Stock Up 2.6%

Shares of OMC traded up $2.0480 on Friday, reaching $79.5280. The stock had a trading volume of 4,736,853 shares, compared to its average volume of 3,263,023. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. 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 company has a 50-day simple moving average of $73.44 and a 200-day simple moving average of $76.07. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 33.62% and a net margin of 8.67%.The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. Sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.5%. Omnicom Group's payout ratio is presently 40.17%.

Omnicom Group Company 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.