Omnicom Group Inc. (NYSE:OMC) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,539 shares of the business services provider’s stock after selling 11,044 shares during the quarter. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $3,439,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC acquired a new stake in shares of Omnicom Group during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new stake in Omnicom Group during the fourth quarter worth approximately $26,000. Pinnacle Bancorp Inc. raised its stake in Omnicom Group by 61.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Omnicom Group during the fourth quarter worth about $29,000. Finally, First United Bank & Trust acquired a new stake in shares of Omnicom Group during the fourth quarter worth about $35,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on OMC. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie raised their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $104.40.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of NYSE:OMC traded up $1.60 during trading on Tuesday, reaching $95.35. 2,728,710 shares of the stock were exchanged, compared to its average volume of 1,595,437. The firm has a market cap of $18.67 billion, a PE ratio of 12.79, a PEG ratio of 2.17 and a beta of 0.95. The stock has a 50-day moving average price of $92.00 and a 200-day moving average price of $91.20. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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 company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. Research analysts expect that Omnicom Group Inc. will post 7.84 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 10th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 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.