Omnicom Group Inc. (NYSE:OMC) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,153 shares of the business services provider’s stock after selling 2,523 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Omnicom Group were worth $1,628,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OMC. Jacobs Levy Equity Management Inc. grew its holdings in Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after purchasing an additional 1,104,566 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Omnicom Group in the fourth quarter worth approximately $93,634,000. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after acquiring an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Omnicom Group in the second quarter worth approximately $56,177,000. Finally, Morningstar Investment Services LLC boosted its stake in shares of Omnicom Group by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after acquiring an additional 595,746 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 completion of the sale, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction dated 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 directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Trading Down 1.5 %

Shares of NYSE OMC opened at $102.30 on Monday. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $104.80. 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 stock has a fifty day simple moving average of $96.52 and a 200-day simple moving average of $94.09. The stock has a market capitalization of $20.03 billion, a PE ratio of 13.82, a PEG ratio of 2.27 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. Omnicom Group’s payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Bank of America lifted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Finally, Macquarie reiterated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

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.