UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 356,136 Shares of Omnicom Group Inc. $OMC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 17.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,681,326 shares of the business services provider’s stock after selling 356,136 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Omnicom Group were worth $122,451,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pure Financial Advisors LLC boosted its holdings in shares of Omnicom Group by 3.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider’s stock valued at $325,000 after buying an additional 135 shares in the last quarter. Wakefield Asset Management LLLP raised its stake in shares of Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after acquiring an additional 149 shares in the last quarter. Caldwell Trust Co raised its stake in shares of Omnicom Group by 29.0% during the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock worth $50,000 after acquiring an additional 149 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Finally, Binnacle Investments Inc lifted its position in Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 169 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Linda Johnson Rice sold 1,385 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on OMC shares. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Citigroup dropped their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Performance

OMC opened at $85.93 on Wednesday. The firm’s fifty day simple moving average is $82.27 and its two-hundred day simple moving average is $78.46. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 74.08, a PEG ratio of 0.58 and a beta of 0.65. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. Equities analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.