Omnicom Group Inc. $OMC Shares Sold by Vest Financial LLC

Key Points

• Vest Financial LLC reduced its stake in Omnicom Group by 16.0%, holding 20,800 shares valued at approximately $1.5 million after selling 3,960 shares.
• Other hedge funds significantly increased their positions in Omnicom Group, with Pacer Advisors raising their holdings by 17,506.1% to over 2.7 million shares.
• Omnicom Group reported a $2.05 EPS for the last quarter, exceeding analysts’ expectations, with quarterly revenue up 4.2% year-over-year.

Vest Financial LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 16.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,800 shares of the business services provider's stock after selling 3,960 shares during the period. Vest Financial LLC's holdings in Omnicom Group were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of OMC. Pacer Advisors Inc. raised its position in shares of Omnicom Group by 17,506.1% in the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock valued at $227,512,000 after buying an additional 2,728,494 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after purchasing an additional 1,205,165 shares during the last quarter. Baird Financial Group Inc. increased its position in Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock worth $323,040,000 after purchasing an additional 1,199,725 shares during the last quarter. AQR Capital Management LLC increased its position in Omnicom Group by 1,836.5% during the first quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider's stock worth $89,114,000 after purchasing an additional 1,030,633 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of OMC opened at $78.58 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The stock 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 firm has a 50-day simple moving average of $77.09 and a two-hundred day simple moving average of $74.94. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The firm 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 business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 earnings per share. As a group, analysts forecast 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 was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were issued a $0.70 dividend. The ex-dividend date 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 40.17%.

Analyst Ratings Changes

Several research firms recently issued reports on OMC. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research 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 research report on Monday, June 23rd. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Wells Fargo & Company upgraded shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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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