Sound Income Strategies LLC Sells 29,160 Shares of Omnicom Group Inc. $OMC

Sound Income Strategies LLC decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,475 shares of the business services provider’s stock after selling 29,160 shares during the quarter. Omnicom Group comprises approximately 1.3% of Sound Income Strategies LLC’s portfolio, making the stock its 13th biggest position. Sound Income Strategies LLC owned 0.12% of Omnicom Group worth $26,735,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OMC. Wealth Enhancement Advisory Services LLC grew its stake in Omnicom Group by 155.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,116 shares of the business services provider’s stock worth $7,265,000 after purchasing an additional 55,421 shares during the period. AIA Group Ltd purchased a new position in Omnicom Group during the third quarter valued at $1,376,000. Deprince Race & Zollo Inc. boosted its holdings in shares of Omnicom Group by 34.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 524,037 shares of the business services provider’s stock valued at $42,316,000 after buying an additional 133,093 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Omnicom Group by 2,103.2% during the 4th quarter. Nordea Investment Management AB now owns 411,049 shares of the business services provider’s stock valued at $33,262,000 after buying an additional 392,392 shares in the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of Omnicom Group in the 4th quarter worth about $1,343,000. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the topic of several research reports. 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 shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Finally, Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

Shares of OMC opened at $78.55 on Friday. The business’s fifty day simple moving average is $74.86 and its two-hundred day simple moving average is $76.74. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 201.41, a P/E/G ratio of 0.46 and a beta of 0.63.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.1%. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

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.