UniSuper Management Pty Ltd Sells 4,304 Shares of Omnicom Group Inc. (NYSE:OMC)

UniSuper Management Pty Ltd lessened its position in Omnicom Group Inc. (NYSE:OMC) by 25.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,417 shares of the business services provider’s stock after selling 4,304 shares during the period. UniSuper Management Pty Ltd’s holdings in Omnicom Group were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC lifted its position in Omnicom Group by 2.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 104,302 shares of the business services provider’s stock valued at $10,092,000 after purchasing an additional 2,653 shares during the period. Alerus Financial NA raised its position in Omnicom Group by 0.6% in the first quarter. Alerus Financial NA now owns 70,251 shares of the business services provider’s stock worth $6,797,000 after acquiring an additional 407 shares during the period. Lcnb Corp bought a new position in Omnicom Group in the first quarter worth approximately $223,000. Covestor Ltd raised its position in Omnicom Group by 62.3% in the first quarter. Covestor Ltd now owns 1,771 shares of the business services provider’s stock worth $171,000 after acquiring an additional 680 shares during the period. Finally, Ironwood Investment Counsel LLC raised its position in Omnicom Group by 0.9% in the first quarter. Ironwood Investment Counsel LLC now owns 27,516 shares of the business services provider’s stock worth $2,662,000 after acquiring an additional 232 shares during the period. Institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. Moffett Nathanson increased their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. UBS Group increased their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Price Performance

OMC traded down $1.52 during trading on Wednesday, hitting $90.75. 1,422,289 shares of the company traded hands, compared to its average volume of 1,620,980. The company has a market cap of $17.76 billion, a PE ratio of 12.26, a P/E/G ratio of 2.16 and a beta of 0.95. The stock’s 50-day simple moving average is $91.60 and its two-hundred day simple moving average is $91.46. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $98.06. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

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

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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 3.09%. Omnicom Group’s payout ratio 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.