Sequoia Financial Advisors LLC Reduces Stake in Omnicom Group Inc. (NYSE:OMC)

Sequoia Financial Advisors LLC lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,594 shares of the business services provider’s stock after selling 7,565 shares during the period. Sequoia Financial Advisors LLC’s holdings in Omnicom Group were worth $4,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMC. Beutel Goodman & Co Ltd. grew its stake in shares of Omnicom Group by 1.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock worth $363,148,000 after purchasing an additional 42,075 shares during the period. Boston Partners boosted its stake in shares of Omnicom Group by 11.0% during the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after purchasing an additional 165,136 shares during the period. First Trust Advisors LP raised its stake in shares of Omnicom Group by 7.7% in the 4th quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after acquiring an additional 186,562 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Omnicom Group by 1.9% in the 4th quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock valued at $205,051,000 after purchasing an additional 43,861 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares of the company’s stock, valued at $941,153.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OMC shares. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group lifted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Moffett Nathanson raised their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Stock Up 0.3 %

Shares of OMC traded up $0.30 during trading on Tuesday, reaching $94.38. The company’s stock had a trading volume of 246,285 shares, compared to its average volume of 1,612,253. The company has a fifty day moving average of $91.42 and a two-hundred day moving average of $91.95. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $98.71. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 2.24 and a beta of 0.95. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. On average, sell-side analysts predict that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

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.