Hsbc Holdings PLC Sells 412,516 Shares of Omnicom Group Inc. $OMC

Hsbc Holdings PLC reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 693,921 shares of the business services provider’s stock after selling 412,516 shares during the quarter. Hsbc Holdings PLC’s holdings in Omnicom Group were worth $52,313,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OMC. Activest Wealth Management raised its stake in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID increased its position in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Finally, EFG International AG bought a new position in Omnicom Group in the 4th quarter valued at approximately $28,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Up 0.8%

NYSE OMC opened at $82.40 on Tuesday. The business’s 50-day moving average price is $75.93 and its two-hundred day moving average price is $76.80. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The firm has a market capitalization of $23.48 billion, a PE ratio of 211.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $1.70 earnings per share. The firm’s revenue was up 69.2% compared to the same quarter last year. On average, analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.9%. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.

Analyst Upgrades and Downgrades

OMC has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Citigroup dropped their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $99.38.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.