Omnicom Group (NYSE:OMC) Director Sells $122,891.05 in Stock

Key Points

• Omnicom Group director Linda Johnson Rice sold 1,385 shares for approximately $122,891 at an average price of $88.73, reducing her direct stake by 10.57% to 11,719 shares.
• Omnicom shares were trading at $87.98, near their 52-week high of $89.57. The company’s latest quarterly revenue rose 63.4% year over year to $6.56 billion, though earnings per share narrowly missed estimates.
• The company declared a quarterly dividend of $0.80, equivalent to an annualized $3.20 payout and a 3.6% yield. Analysts’ consensus rating is Hold, with an average price target of $99.

Omnicom Group Inc. (NYSE:OMC - Get Free Report) Director Linda Johnson Rice sold 1,385 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares of the company's stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Omnicom Group Trading Down 0.2%

Omnicom Group stock traded down $0.22 during mid-day trading on Wednesday, reaching $87.98. 1,875,003 shares of the company traded hands, compared to its average volume of 4,323,448. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The firm's 50 day moving average price is $80.81 and its 200 day moving average price is $77.86. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 75.85, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The company had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company's revenue for the quarter was up 63.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. On average, analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.6%. Omnicom Group's dividend payout ratio (DPR) is 275.86%.

Analyst Upgrades and Downgrades

OMC has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price for the company. Citigroup dropped their price target on Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group began coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $99.00.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds have recently bought and sold shares of OMC. EverSource Wealth Advisors LLC lifted its holdings in shares of Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock valued at $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $241,000. Gabelli Funds LLC bought a new position in Omnicom Group during the 2nd quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. increased its position in Omnicom Group by 5.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock valued at $2,113,000 after buying an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock valued at $25,990,000 after buying an additional 44,746 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Company Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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