Linda Johnson Rice Sells 1,385 Shares of Omnicom Group (NYSE:OMC) Stock

Omnicom Group Inc. (NYSE:OMC) Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $87.78 on Friday. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 75.68, a PEG ratio of 0.58 and a beta of 0.64. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The firm’s 50 day simple moving average is $81.37 and its 200-day simple moving average is $78.12. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio is 275.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Citigroup reduced their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and a consensus price target of $99.00.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. raised its stake in Omnicom Group by 55.4% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock valued at $7,976,000 after purchasing an additional 35,247 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in Omnicom Group by 346.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock worth $1,662,000 after purchasing an additional 15,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Omnicom Group by 70.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock worth $54,815,000 after buying an additional 277,665 shares in the last quarter. Orca Investment Management LLC purchased a new stake in shares of Omnicom Group during the second quarter worth $2,023,000. Finally, New York State Teachers Retirement System raised its position in shares of Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock valued at $20,282,000 after buying an additional 103,615 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

About Omnicom Group

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.