Iowa State Bank Sells 590 Shares of Omnicom Group Inc. $OMC

Iowa State Bank cut its position in Omnicom Group Inc. (NYSE:OMC) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,293 shares of the business services provider’s stock after selling 590 shares during the quarter. Iowa State Bank’s holdings in Omnicom Group were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. O Keefe Stevens Advisory Inc. raised its stake in shares of Omnicom Group by 27.8% in the second quarter. O Keefe Stevens Advisory Inc. now owns 10,695 shares of the business services provider’s stock valued at $769,000 after buying an additional 2,326 shares during the period. 111 Capital bought a new stake in shares of Omnicom Group in the second quarter valued at $297,000. Ameritas Advisory Services LLC bought a new stake in shares of Omnicom Group in the second quarter valued at $34,000. Hilltop National Bank bought a new stake in shares of Omnicom Group in the second quarter valued at $304,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Omnicom Group by 9.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,661 shares of the business services provider’s stock valued at $1,846,000 after purchasing an additional 2,202 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

OMC opened at $77.59 on Monday. The stock has a 50-day moving average price of $76.33 and a 200-day moving average price of $75.01. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $15.03 billion, a P/E ratio of 11.13, a PEG ratio of 1.51 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the business earned $1.95 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 40.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OMC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Saturday, September 27th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. reduced their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday, June 23rd. Finally, Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.29.

Omnicom Group Company Profile

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.