Omnicom Group Inc. (NYSE:OMC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in Omnicom Group Inc. by 51.1%, selling 50,134 shares, leaving it with 48,054 shares valued at approximately $3.98 million.
• Omnicom Group reported earnings of $2.05 per share, beating estimates and showing a 4.2% revenue increase year-over-year, with total revenue of $4.02 billion for the quarter.
• The company declared a quarterly dividend of $0.70 per share, reflecting an annualized yield of 3.77%, with the ex-dividend date set for September 2nd.

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 51.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,054 shares of the business services provider's stock after selling 50,134 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Omnicom Group were worth $3,984,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Johnson Financial Group Inc. boosted its stake in shares of Omnicom Group by 153.8% in the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc boosted its stake 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 purchasing an additional 143 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the period. Golden State Wealth Management LLC lifted its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after acquiring an additional 343 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in Omnicom Group in the first quarter worth approximately $47,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent research reports. 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 research note on Monday, June 23rd. Citigroup reiterated a "buy" rating and issued a $103.00 price target on shares of Omnicom Group in a research note on Tuesday, April 15th. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Moderate Buy" and an average target price of $94.43.

Omnicom Group Stock Down 1.4%

OMC stock traded down $1.03 during midday trading on Friday, reaching $71.02. 891,641 shares of the company were exchanged, compared to its average volume of 3,650,825. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The stock's 50-day simple moving average is $72.60 and its 200 day simple moving average is $77.41. The company has a market cap of $13.76 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92.

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

Omnicom Group Dividend Announcement

The firm 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 $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.9%. Omnicom Group's dividend payout ratio is 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.