QRG Capital Management Inc. Cuts Position in Omnicom Group Inc. (NYSE:OMC)

QRG Capital Management Inc. decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,092 shares of the business services provider’s stock after selling 1,447 shares during the quarter. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $3,058,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OMC. Jacobs Levy Equity Management Inc. raised its position 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 worth $140,317,000 after acquiring an additional 1,104,566 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Omnicom Group in the fourth quarter worth $93,634,000. Morningstar Investment Services LLC increased its position 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 valued at $104,037,000 after buying an additional 595,746 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Omnicom Group by 88.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after buying an additional 546,577 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Omnicom Group in the fourth quarter valued at $43,502,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays upgraded 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 research report on Tuesday, May 7th. 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. Finally, UBS Group lifted their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Omnicom Group Trading Down 0.3 %

Shares of NYSE OMC traded down $0.25 during midday trading on Friday, hitting $93.32. The stock had a trading volume of 755,963 shares, compared to its average volume of 1,619,908. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $98.71. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $91.34 and a 200 day moving average price of $91.91.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data 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 business 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 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 EPS. On average, analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

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. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction that occurred 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 approximately $941,153.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.