QRG Capital Management Inc. Trims Position in Omnicom Group Inc. (NYSE:OMC)

QRG Capital Management Inc. lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 14.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,961 shares of the business services provider's stock after selling 5,077 shares during the quarter. QRG Capital Management Inc.'s holdings in Omnicom Group were worth $2,401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Versant Capital Management Inc boosted its position 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 worth $38,000 after purchasing an additional 143 shares in the last quarter. Smartleaf Asset Management LLC boosted its position 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 worth $105,000 after purchasing an additional 147 shares in the last quarter. MGO One Seven LLC boosted its position 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 worth $437,000 after purchasing an additional 157 shares in the last quarter. Convergence Financial LLC boosted its position in Omnicom Group by 6.5% during the fourth quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider's stock worth $232,000 after purchasing an additional 165 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

OMC stock traded up $0.71 during trading on Friday, hitting $70.13. The company had a trading volume of 8,876,313 shares, compared to its average volume of 2,482,021. The firm has a market cap of $13.68 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The firm has a 50-day moving average price of $73.82 and a 200-day moving average price of $80.53. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

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

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's payout ratio is currently 38.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Barclays decreased their target price on Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citigroup restated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. UBS Group decreased their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their price target on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of "Moderate Buy" and a consensus target price of $101.29.

Omnicom Group 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.