QRG Capital Management Inc. Sells 6,475 Shares of Omnicom Group Inc. $OMC

Key Points

• QRG Capital Management Inc. has reduced its stake in Omnicom Group Inc. by 22.4%, selling 6,475 shares, leaving it with 22,486 shares worth approximately $1.6 million.
• The company recently reported earnings for the quarter, with an EPS of $2.05, exceeding the estimate of $2.02, and a revenue of $4.02 billion, up 4.2% year-over-year.
• Omnicom Group announced a quarterly dividend of $0.70 per share, resulting in an annual yield of 3.5%, with the payout scheduled for October 10th.

QRG Capital Management Inc. lowered its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 22.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,486 shares of the business services provider's stock after selling 6,475 shares during the quarter. QRG Capital Management Inc.'s holdings in Omnicom Group were worth $1,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC increased its stake in shares of Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after buying an additional 4,690 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Omnicom Group by 51.1% during the first quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock valued at $592,000 after buying an additional 2,508 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Omnicom Group during the first quarter valued at approximately $208,000. SG Americas Securities LLC increased its stake in shares of Omnicom Group by 81.2% during the first quarter. SG Americas Securities LLC now owns 124,006 shares of the business services provider's stock valued at $10,281,000 after buying an additional 55,586 shares during the period. Finally, CX Institutional increased its stake in shares of Omnicom Group by 6.8% during the first quarter. CX Institutional now owns 4,394 shares of the business services provider's stock valued at $364,000 after buying an additional 281 shares during the period. Institutional investors own 91.97% of the company's stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $79.68 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The business's fifty day moving average is $76.52 and its 200 day moving average is $75.03. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.53 and a beta of 0.96.

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, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on OMC shares. Wells Fargo & Company raised Omnicom Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Barclays cut 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. JPMorgan Chase & Co. reduced their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Omnicom Group in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of "Moderate Buy" and a consensus target price 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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