Barings LLC Trims Position in Omnicom Group Inc. (OMC)

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Barings LLC decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,845 shares of the business services provider’s stock after selling 4,000 shares during the period. Barings LLC’s holdings in Omnicom Group were worth $1,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in Omnicom Group during the 1st quarter valued at about $40,000. Great West Life Assurance Co. Can lifted its position in Omnicom Group by 3.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 600,862 shares of the business services provider’s stock valued at $43,732,000 after purchasing an additional 20,307 shares during the period. Dean Investment Associates LLC lifted its position in Omnicom Group by 3.9% during the 1st quarter. Dean Investment Associates LLC now owns 37,453 shares of the business services provider’s stock valued at $2,734,000 after purchasing an additional 1,394 shares during the period. Kendall Capital Management lifted its position in Omnicom Group by 17.1% during the 1st quarter. Kendall Capital Management now owns 19,773 shares of the business services provider’s stock valued at $1,443,000 after purchasing an additional 2,885 shares during the period. Finally, BP PLC lifted its position in Omnicom Group by 128.0% during the 1st quarter. BP PLC now owns 57,000 shares of the business services provider’s stock valued at $4,160,000 after purchasing an additional 32,000 shares during the period.

In related news, SVP Andrew Castellaneta sold 4,400 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $80.24, for a total transaction of $353,056.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Wren sold 60,541 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total value of $4,833,593.44. The disclosure for this sale can be found here. Insiders sold a total of 72,910 shares of company stock worth $5,834,558 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Shares of NYSE:OMC opened at $78.81 on Friday. The company has a market capitalization of $17.35 billion, a P/E ratio of 13.71, a PEG ratio of 2.86 and a beta of 0.71. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88. Omnicom Group Inc. has a fifty-two week low of $65.85 and a fifty-two week high of $84.35.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. Omnicom Group’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. On average, analysts forecast that Omnicom Group Inc. will post 5.93 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.30%. Omnicom Group’s dividend payout ratio is 45.22%.

A number of research firms have issued reports on OMC. BMO Capital Markets upped their target price on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $76.00 to $84.00 in a research report on Wednesday, April 17th. Citigroup upped their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Finally, Macquarie set a $76.00 target price on shares of Omnicom Group and gave the company a “hold” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $77.33.

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Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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

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