Candriam Luxembourg S.C.A. lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 75.0% during the second quarter, Holdings Channel reports. The fund owned 33,368 shares of the business services provider’s stock after selling 100,040 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Omnicom Group were worth $2,766,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OMC. BlackRock Inc. boosted its position in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock worth $1,367,864,000 after buying an additional 116,893 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Omnicom Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 13,088,271 shares of the business services provider’s stock worth $1,128,340,000 after buying an additional 245,542 shares during the last quarter. State Street Corp boosted its position in shares of Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock worth $850,497,000 after buying an additional 121,470 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Omnicom Group by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 5,933,025 shares of the business services provider’s stock worth $511,487,000 after buying an additional 488,684 shares during the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.

Shares of Omnicom Group Inc. (NYSE:OMC) opened at 78.82 on Thursday. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The company has a 50 day moving average price of $81.02 and a 200 day moving average price of $83.50. The firm has a market cap of $18.19 billion, a PE ratio of 15.92 and a beta of 1.25.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the firm posted $1.36 EPS. Omnicom Group’s revenue was down 2.4% on a year-over-year basis. On average, analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.79%. Omnicom Group’s dividend payout ratio is presently 44.44%.

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OMC has been the subject of a number of research analyst reports. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Friday, July 14th. BidaskClub cut Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC reissued a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Evercore ISI initiated coverage on Omnicom Group in a report on Monday, April 17th. They set an “in-line” rating and a $91.00 target price for the company. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and an average target price of $86.00.

In other news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock valued at $2,046,845 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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

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