NuWave Investment Management LLC Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

NuWave Investment Management LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 67.1% in the 2nd quarter, Holdings Channel reports. The fund owned 1,307 shares of the business services provider’s stock after selling 2,665 shares during the quarter. NuWave Investment Management LLC’s holdings in Omnicom Group were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Omnicom Group by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,233,581 shares of the business services provider’s stock worth $90,344,000 after purchasing an additional 103,138 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Omnicom Group by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 3,852,265 shares of the business services provider’s stock worth $281,767,000 after purchasing an additional 597,017 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Omnicom Group by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,934 shares of the business services provider’s stock worth $728,000 after purchasing an additional 175 shares during the last quarter. Actinver Wealth Management Inc. bought a new position in shares of Omnicom Group in the fourth quarter worth approximately $237,000. Finally, Norges Bank bought a new position in shares of Omnicom Group in the fourth quarter worth approximately $158,391,000.

NYSE:OMC opened at $81.14 on Wednesday. The company has a market capitalization of $17.77 billion, a PE ratio of 14.11, a P/E/G ratio of 2.67 and a beta of 0.71. The firm has a fifty day moving average of $81.84. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $85.05. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.81.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, July 17th. The business services provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.07. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 earnings per share. Analysts predict that Omnicom Group Inc. will post 6.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, September 19th. Omnicom Group’s dividend payout ratio (DPR) is currently 45.22%.

Several research firms recently weighed in on OMC. Barclays reiterated a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $88.00 to $86.00 in a report on Sunday, July 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $80.33.

In other Omnicom Group news, Chairman John Wren sold 60,541 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew Castellaneta sold 2,000 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $80.16, for a total value of $160,320.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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