Omnicom Group Inc. $OMC Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its holdings in Omnicom Group Inc. (NYSE:OMC) by 23.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,243 shares of the business services provider’s stock after selling 23,453 shares during the period. Voya Investment Management LLC’s holdings in Omnicom Group were worth $6,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OMC. Zions Bancorporation National Association UT acquired a new position in shares of Omnicom Group in the 1st quarter valued at approximately $34,000. Gen Wealth Partners Inc bought a new stake in shares of Omnicom Group in the first quarter worth $36,000. Versant Capital Management Inc increased its stake in shares of Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock worth $38,000 after buying an additional 143 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group during the 1st quarter valued at $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday, June 23rd. Barclays downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.43.

Omnicom Group Stock Down 0.3%

Shares of Omnicom Group stock opened at $76.68 on Thursday. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.53 and a beta of 0.97. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $75.49 and its 200-day simple moving average is $75.49.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is currently 40.17%.

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.