USS Investment Management Ltd Sells 29,400 Shares of 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 trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 48.6% in the first quarter, according to the company in its most recent Form 13F filing 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 period. USS Investment Management Ltd's holdings in Omnicom Group were worth $2,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OMC. Pacer Advisors Inc. raised its stake in shares of Omnicom Group by 17,506.1% during the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock worth $227,512,000 after buying an additional 2,728,494 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after buying an additional 1,205,165 shares during the last quarter. Baird Financial Group Inc. increased its stake in Omnicom Group by 44.5% in the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock valued at $323,040,000 after purchasing an additional 1,199,725 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Omnicom Group by 1,836.5% in the first quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider's stock valued at $89,114,000 after buying an additional 1,030,633 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Omnicom Group in the first quarter valued at approximately $67,637,000. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OMC shares. 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 report on Monday, June 23rd. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company reduced 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 report on Wednesday, July 16th. Finally, Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Stock Performance

OMC stock traded down $0.70 during trading hours on Friday, reaching $77.14. The stock had a trading volume of 3,292,519 shares, compared to its average volume of 3,022,477. The stock has a market capitalization of $14.94 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $75.31 and a 200 day simple moving average of $75.61. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00.

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

Omnicom Group Dividend Announcement

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