Kestra Advisory Services LLC cut its position in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 27.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,853 shares of the business services provider’s stock after selling 2,966 shares during the period. Kestra Advisory Services LLC’s holdings in Omnicom Group were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new stake in Omnicom Group during the 1st quarter valued at $203,000. Exchange Traded Concepts LLC raised its position in Omnicom Group by 598.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,451 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 2,957 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in Omnicom Group during the 1st quarter valued at $1,269,000. Ieq Capital LLC raised its position in shares of Omnicom Group by 18.9% in the 1st quarter. Ieq Capital LLC now owns 7,450 shares of the business services provider’s stock worth $632,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Columbus Macro LLC raised its position in shares of Omnicom Group by 3.5% in the 1st quarter. Columbus Macro LLC now owns 24,054 shares of the business services provider’s stock worth $2,046,000 after acquiring an additional 822 shares in the last quarter. 93.08% of the stock is owned by institutional investors.
Insider Buying and Selling at Omnicom Group
In other Omnicom Group news, Director Linda Johnson Rice sold 1,900 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $77.88, for a total transaction of $147,972.00. Following the sale, the director now owns 9,784 shares in the company, valued at approximately $761,977.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.
Omnicom Group Stock Up 2.9 %
Omnicom Group (NYSE:OMC – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The business services provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.47 billion. Omnicom Group had a return on equity of 37.06% and a net margin of 9.06%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. On average, research analysts expect that Omnicom Group Inc. will post 6.33 earnings per share for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 annualized dividend and a yield of 4.15%. Omnicom Group’s payout ratio is presently 46.43%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on OMC. StockNews.com raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. BMO Capital Markets boosted their price target on Omnicom Group from $82.00 to $89.00 in a research report on Thursday, April 21st. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $96.00 to $73.00 in a research report on Friday, July 8th. Edward Jones lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Morgan Stanley reduced their price target on Omnicom Group from $84.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, June 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.70.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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