Omnicom Group Inc. $OMC Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Omnicom Group Inc. by 58.3%, selling over 6.2 million shares, leaving them with a total of approximately 4.5 million shares valued at $371.6 million.
• Several institutional investors, including Johnson Financial Group Inc. and CoreCap Advisors LLC, have significantly increased their stakes in Omnicom Group, contributing to institutional ownership rising to 91.97% of the company.
• Omnicom Group recently announced a quarterly dividend of $0.70 per share, translating to a 3.7% yield, with a high dividend payout ratio of 40.17%.

Wellington Management Group LLP decreased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 58.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,481,829 shares of the business services provider's stock after selling 6,270,198 shares during the period. Wellington Management Group LLP owned about 2.30% of Omnicom Group worth $371,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. increased its holdings in 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 buying an additional 200 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Omnicom Group in the first quarter valued at $34,000. Gen Wealth Partners Inc purchased a new position in Omnicom Group in the first quarter valued at $36,000. Versant Capital Management Inc increased its holdings 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 in the last quarter. Finally, CoreCap Advisors LLC increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective 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 dropped 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. Bank of America upgraded 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. Finally, Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.43.

Omnicom Group Price Performance

Shares of NYSE OMC traded up $2.0480 during trading on Friday, hitting $79.5280. The company had a trading volume of 4,736,853 shares, compared to its average volume of 3,394,241. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The stock has a fifty day simple moving average of $73.44 and a two-hundred day simple moving average of $76.02. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

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 for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The firm 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%. Omnicom Group's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 earnings per share. On average, research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

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 dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. Omnicom Group's payout ratio is presently 40.17%.

Omnicom Group 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.