Omnicom Group Inc. $OMC Stake Lessened by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark reduced its Omnicom Group stake by 66.1% in the second quarter, selling 18,004 shares and retaining 9,250 shares valued at approximately $674,000. Institutional investors overall still own 91.97% of OMC.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year and above estimates, but earnings of $2.65 per share narrowly missed consensus by $0.02.
• The company declared a quarterly dividend of $0.80 per share, equating to an annualized $3.20 payout and a 3.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $99.

PensionDanmark Pensionsforsikringsaktieselskab cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 66.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,250 shares of the business services provider's stock after selling 18,004 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Omnicom Group were worth $674,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OMC. Vanguard Group Inc. raised its holdings in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider's stock worth $3,143,930,000 after acquiring an additional 15,220,444 shares in the last quarter. State Street Corp grew its stake in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Omnicom Group by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 12,098,191 shares of the business services provider's stock valued at $911,115,000 after purchasing an additional 814,328 shares in the last quarter. Geode Capital Management LLC increased its position in Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock worth $690,327,000 after purchasing an additional 3,117,188 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in Omnicom Group by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider's stock worth $512,927,000 after purchasing an additional 33,557 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Down 0.8%

Shares of OMC opened at $84.54 on Tuesday. The stock's 50-day moving average price is $78.25 and its 200 day moving average price is $77.02. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 72.88, a P/E/G ratio of 0.57 and a beta of 0.64. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.41.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts' consensus estimates of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm's quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, September 18th. Omnicom Group's dividend payout ratio (DPR) is 275.86%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OMC. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price target for the company. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Zacks Research cut shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, Citigroup reduced their target price on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Omnicom Group presently has a consensus rating of "Hold" and an average price target of $99.00.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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