Omnicom Group Inc. $OMC Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,456 shares of the business services provider’s stock after selling 8,704 shares during the quarter. Modera Wealth Management LLC owned approximately 0.09% of Omnicom Group worth $18,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Omnicom Group by 8.0% during the first quarter. Assetmark Inc. now owns 931,933 shares of the business services provider’s stock valued at $70,184,000 after purchasing an additional 69,154 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in shares of Omnicom Group by 32.1% in the 1st quarter. Prosperity Consulting Group LLC now owns 7,455 shares of the business services provider’s stock worth $561,000 after buying an additional 1,810 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Omnicom Group in the 1st quarter worth about $6,562,000. Wealthfront Advisers LLC boosted its holdings in shares of Omnicom Group by 4.9% in the 1st quarter. Wealthfront Advisers LLC now owns 34,964 shares of the business services provider’s stock valued at $2,633,000 after buying an additional 1,636 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in shares of Omnicom Group by 2.2% in the 1st quarter. D.A. Davidson & CO. now owns 11,400 shares of the business services provider’s stock valued at $859,000 after buying an additional 245 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

OMC opened at $81.72 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $75.79 and its 200-day moving average is $76.81. The stock has a market cap of $23.29 billion, a PE ratio of 209.53, a price-to-earnings-growth ratio of 0.50 and a beta of 0.63. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. On average, analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. Omnicom Group’s dividend payout ratio is presently 820.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OMC shares. Citigroup dropped their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. UBS Group boosted their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.38.

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.