CarsonAllaria Wealth Management Ltd. Lowers Stock Position in Omnicom Group Inc. (NYSE:OMC)

CarsonAllaria Wealth Management Ltd. reduced its position in Omnicom Group Inc. (NYSE:OMC) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,382 shares of the business services provider’s stock after selling 357 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Omnicom Group were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in shares of Omnicom Group by 16.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 22,824 shares of the business services provider’s stock valued at $2,047,000 after purchasing an additional 3,183 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after acquiring an additional 14,153 shares in the last quarter. Gradient Investments LLC raised its stake in shares of Omnicom Group by 15,916.7% in the 2nd quarter. Gradient Investments LLC now owns 961 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 955 shares during the period. Blue Trust Inc. raised its stake in shares of Omnicom Group by 159.4% in the 2nd quarter. Blue Trust Inc. now owns 1,209 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 743 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Omnicom Group by 3,657.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 107,550 shares of the business services provider’s stock valued at $9,647,000 after acquiring an additional 104,688 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of a number of recent research reports. Macquarie restated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. Finally, UBS Group upped their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.70.

Omnicom Group Stock Performance

OMC traded down $0.65 during trading on Tuesday, reaching $96.26. 1,010,139 shares of the company were exchanged, compared to its average volume of 1,607,854. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $98.71. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $92.03 and a 200 day moving average of $92.17. The stock has a market cap of $18.85 billion, a P/E ratio of 13.01, a PEG ratio of 2.24 and a beta of 0.95.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.91%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Insider Activity

In other news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.