Omnicom Group Inc. (NYSE:OMC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 47.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,375 shares of the business services provider's stock after selling 219,556 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Omnicom Group worth $20,261,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after purchasing an additional 1,992,695 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Omnicom Group during the fourth quarter worth $150,819,000. FMR LLC raised its holdings in Omnicom Group by 250.1% during the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider's stock worth $172,987,000 after purchasing an additional 1,436,231 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Omnicom Group by 91.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider's stock worth $184,730,000 after purchasing an additional 1,027,567 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock worth $334,076,000 after purchasing an additional 747,575 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Down 0.8%

OMC stock traded down $0.65 during trading on Friday, reaching $76.41. 2,112,530 shares of the stock traded hands, compared to its average volume of 4,663,703. The business's 50 day moving average price is $72.72 and its 200-day moving average price is $77.64. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. 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 firm has a market capitalization of $14.80 billion, a PE ratio of 10.96, a P/E/G ratio of 1.52 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. 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 previous year, the business earned $1.95 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current 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 given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced 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. Citigroup reissued a "buy" rating and issued a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company cut 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. Barclays cut 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 report on Wednesday, June 25th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Omnicom Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

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.