USS Investment Management Ltd Cuts Position in Omnicom Group Inc. $OMC

Key Points

• USS Investment Management Ltd reduced its stake in Omnicom Group Inc. by 48.6%, ending the first quarter with 31,115 shares valued at approximately $2.58 million.
• Omnicom Group reported a quarterly earnings per share (EPS) of $2.05, exceeding analysts' expectations, and its revenue grew by 4.2% year-over-year.
• The company announced a quarterly dividend of $0.70 per share, providing an annual yield of 3.5%, with the payout ratio at 40.17%.

USS Investment Management Ltd lowered its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 48.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,115 shares of the business services provider's stock after selling 29,400 shares during the quarter. USS Investment Management Ltd's holdings in Omnicom Group were worth $2,579,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the first quarter valued at about $34,000. Gen Wealth Partners Inc acquired a new position in Omnicom Group in the first quarter valued at about $36,000. Versant Capital Management Inc lifted its position in 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 buying an additional 143 shares during the last quarter. CoreCap Advisors LLC lifted its position in 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 buying an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position 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 valued at $41,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Down 0.9%

NYSE:OMC traded down $0.70 on Friday, reaching $77.14. 3,292,519 shares of the company's stock were exchanged, compared to its average volume of 3,030,801. 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 firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97. The business has a fifty day moving average of $75.31 and a 200-day moving average of $75.51. 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 quarterly 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 company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. As a group, analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Wells Fargo & Company decreased their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Finally, Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.43.

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.