Omnicom Group Inc. $OMC Holdings Trimmed by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in Omnicom Group Inc. by 20%, now holding 13,550 shares valued at approximately $1.12 million.
• Omnicom Group declared a quarterly dividend of $0.70 per share, representing an annual yield of 3.6% and a payout ratio of 40.17%.
• Analysts have varying outlooks on Omnicom Group, with a consensus price target set at $94.43 and a rating of "Moderate Buy."

Rafferty Asset Management LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,550 shares of the business services provider's stock after selling 3,384 shares during the period. Rafferty Asset Management LLC's holdings in Omnicom Group were worth $1,123,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Robinson Value Management Ltd. increased its stake in Omnicom Group by 0.4% in the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock valued at $2,837,000 after purchasing an additional 139 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Omnicom Group by 45.7% in 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. Mezzasalma Advisors LLC boosted its holdings in shares of Omnicom Group by 3.1% in 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. Financial Advisors Network Inc. boosted its holdings in shares of Omnicom Group by 6.1% in the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock valued at $228,000 after acquiring an additional 159 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Omnicom Group by 0.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock valued at $1,834,000 after acquiring an additional 165 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMC has been the subject of several research analyst reports. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Monday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Wells Fargo & Company decreased their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Four investment 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 an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Trading Up 1.2%

OMC traded up $0.92 during midday trading on Thursday, hitting $78.45. The company's stock had a trading volume of 2,828,418 shares, compared to its average volume of 3,628,270. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market cap of $15.20 billion, a P/E ratio of 11.25, a PEG ratio of 1.55 and a beta of 0.97. The firm has a 50-day moving average price of $74.66 and a two-hundred day moving average price of $75.87. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is currently 40.17%.

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.