CX Institutional Decreases Stake in Omnicom Group Inc. (NYSE:OMC)

CX Institutional cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,754 shares of the business services provider’s stock after selling 423 shares during the quarter. CX Institutional’s holdings in Omnicom Group were worth $3,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Omnicom Group during the first quarter worth about $1,860,000. Sequoia Financial Advisors LLC boosted its position in Omnicom Group by 1,627.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after acquiring an additional 62,640 shares during the last quarter. Kodai Capital Management LP acquired a new position in Omnicom Group during the fourth quarter worth about $27,419,000. Truist Financial Corp boosted its position in Omnicom Group by 4.8% during the fourth quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock worth $40,097,000 after acquiring an additional 21,018 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its position in Omnicom Group by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after acquiring an additional 595,746 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Moffett Nathanson upped their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Macquarie restated an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $91.00 to $106.00 in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Trading Down 0.7 %

Shares of NYSE:OMC opened at $92.89 on Friday. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $98.71. The company’s 50 day moving average is $91.34 and its two-hundred day moving average is $91.86. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.19 billion, a PE ratio of 12.65, a P/E/G ratio of 2.24 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. Equities analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

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.