Russell Investments Group Ltd. Cuts Stock Holdings in Omnicom Group Inc. $OMC

Russell Investments Group Ltd. trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 25.6% during the 2nd quarter, Holdings Channel reports. The firm owned 381,583 shares of the business services provider’s stock after selling 131,173 shares during the quarter. Russell Investments Group Ltd.’s holdings in Omnicom Group were worth $27,420,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Advisors Network Inc. grew its stake in Omnicom Group by 6.1% in the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock worth $228,000 after buying an additional 159 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Omnicom Group by 2.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock worth $457,000 after acquiring an additional 168 shares during the last quarter. Harbour Investments Inc. grew its position in Omnicom Group by 39.1% in the first quarter. Harbour Investments Inc. now owns 616 shares of the business services provider’s stock worth $51,000 after acquiring an additional 173 shares in the last quarter. EPG Wealth Management LLC grew its position in Omnicom Group by 2.3% in the second quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after acquiring an additional 175 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in Omnicom Group by 6.6% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the business services provider’s stock valued at $237,000 after acquiring an additional 176 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OMC shares. Barclays lifted their price target on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.57.

Omnicom Group Stock Performance

NYSE OMC opened at $71.73 on Friday. The company has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $74.84. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $105.99. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.43 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.Omnicom Group’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. On average, equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be given a $0.80 dividend. The ex-dividend date is Friday, December 19th. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.5%. Omnicom Group’s dividend payout ratio is presently 41.36%.

About Omnicom Group

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.