Principal Financial Group Inc. Sells 38,783 Shares of Omnicom Group Inc. (NYSE:OMC)

Principal Financial Group Inc. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,524,337 shares of the business services provider's stock after selling 38,783 shares during the quarter. Principal Financial Group Inc. owned about 0.78% of Omnicom Group worth $126,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in Omnicom Group by 45.7% during 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. Smartleaf Asset Management LLC boosted its holdings in Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider's stock valued at $105,000 after acquiring an additional 147 shares during the period. MGO One Seven LLC boosted its holdings in Omnicom Group by 3.2% during the fourth quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock valued at $437,000 after acquiring an additional 157 shares during the period. Mezzasalma Advisors LLC boosted its holdings in Omnicom Group by 3.1% during the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock valued at $443,000 after acquiring an additional 159 shares during the period. Finally, Center for Financial Planning Inc. boosted its holdings in Omnicom Group by 2.2% during the first quarter. Center for Financial Planning Inc. now owns 9,168 shares of the business services provider's stock valued at $760,000 after acquiring an additional 197 shares during the period. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OMC. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a report on Monday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. UBS Group reduced their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and an average target price of $96.43.

Omnicom Group Stock Performance

Shares of NYSE OMC traded down $0.89 during mid-day trading on Monday, hitting $73.82. The company had a trading volume of 3,895,532 shares, compared to its average volume of 2,613,151. The firm has a market cap of $14.40 billion, a P/E ratio of 10.10, a PEG ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The business's 50-day simple moving average is $73.52 and its 200-day simple moving average is $78.79.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The firm had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. As a group, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, June 10th. Omnicom Group's dividend payout ratio is 38.30%.

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.