Sumitomo Mitsui DS Asset Management Company Ltd Sells 390 Shares of Omnicom Group Inc. $OMC

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,536 shares of the business services provider’s stock after selling 390 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Omnicom Group were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

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

Omnicom Group Price Performance

Omnicom Group stock opened at $75.19 on Monday. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.49 and a beta of 0.97. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The stock’s 50 day moving average price is $75.60 and its two-hundred day moving average price is $75.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) 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 analysts’ expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. On average, equities analysts predict 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. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 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.