United Services Automobile Association decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 10.3% during the first quarter, Holdings Channel reports. The fund owned 679,517 shares of the business services provider’s stock after selling 78,388 shares during the period. United Services Automobile Association owned about 0.29% of Omnicom Group worth $58,581,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cribstone Capital Management LLC purchased a new stake in shares of Omnicom Group during the first quarter valued at approximately $164,000. Huntington Steele LLC purchased a new stake in shares of Omnicom Group during the first quarter valued at approximately $202,000. Quadrature Capital Ltd purchased a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $205,000. Klingenstein Fields & Co. LLC purchased a new stake in shares of Omnicom Group during the first quarter valued at approximately $209,000. Finally, Ledyard National Bank increased its stake in shares of Omnicom Group by 5.1% in the first quarter. Ledyard National Bank now owns 2,460 shares of the business services provider’s stock valued at $212,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.

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

Shares of Omnicom Group Inc. (NYSE OMC) traded up 0.54% during trading on Friday, hitting $83.31. 2,317,570 shares of the company’s stock were exchanged. The company has a market cap of $19.39 billion, a P/E ratio of 16.98 and a beta of 1.25. The company has a 50-day moving average of $82.95 and a 200-day moving average of $84.80. Omnicom Group Inc. has a 12-month low of $75.61 and a 12-month high of $89.66.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a net margin of 7.54% and a return on equity of 42.34%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post $5.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 14th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, June 12th. Omnicom Group’s dividend payout ratio (DPR) is 44.81%.

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Several brokerages have recently commented on OMC. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $83.00 in a research report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. Barclays PLC reiterated a “hold” rating and issued a $86.00 price target on shares of Omnicom Group in a report on Thursday, April 20th. Wedbush reduced their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Finally, Atlantic Securities downgraded shares of Omnicom Group from a “neutral” rating to an “underweight” rating and set a $79.00 price target on the stock. in a report on Wednesday, February 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $86.23.

In related news, Director Leonard S. Coleman, Jr. sold 2,038 shares of the firm’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $83.93, for a total transaction of $171,049.34. Following the completion of the sale, the director now directly owns 24,853 shares in the company, valued at $2,085,912.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the sale, the chairman now owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

About Omnicom Group

Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.

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