Rice Partnership LLC Sells 485 Shares of Omnicom Group Inc. (NYSE:OMC)

Rice Partnership LLC lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,345 shares of the business services provider’s stock after selling 485 shares during the quarter. Rice Partnership LLC’s holdings in Omnicom Group were worth $1,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of Omnicom Group by 24.9% during the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock valued at $1,443,122,000 after acquiring an additional 4,228,195 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Omnicom Group by 5.3% during the 4th quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock valued at $1,163,417,000 after acquiring an additional 796,300 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Omnicom Group by 1,169.5% during the 4th quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock valued at $416,263,000 after acquiring an additional 5,235,862 shares in the last quarter. Janus Henderson Group PLC increased its stake in Omnicom Group by 13.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,158,808 shares of the business services provider’s stock worth $303,552,000 after buying an additional 494,508 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Omnicom Group by 6,842.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock worth $54,000 after buying an additional 3,917,700 shares during the period.

Shares of OMC traded up $0.71 during midday trading on Tuesday, hitting $78.03. The company had a trading volume of 2,099,331 shares, compared to its average volume of 1,930,495. The company has a market capitalization of $17.03 billion, a P/E ratio of 13.57, a PEG ratio of 2.76 and a beta of 0.69. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $84.35. 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 (NYSE:OMC) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.09. The company had revenue of $3.47 billion during 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%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, sell-side analysts expect that Omnicom Group Inc. will post 5.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, June 13th. Omnicom Group’s payout ratio is currently 45.22%.

In related news, Chairman John Wren sold 60,541 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $79.84, for a total transaction of $4,833,593.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Johnson Rice sold 497 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $83.59, for a total transaction of $41,544.23. Following the sale, the director now directly owns 8,161 shares of the company’s stock, valued at approximately $682,177.99. The disclosure for this sale can be found here. Insiders sold a total of 70,354 shares of company stock valued at $5,642,219 in the last three months. Insiders own 1.10% of the company’s stock.

OMC has been the topic of several analyst reports. BMO Capital Markets dropped their price target on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Macquarie set a $76.00 price target on shares of Omnicom Group and gave the stock a “hold” rating in a research note on Thursday, February 14th. Citigroup lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Finally, Barclays raised shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $76.00 to $84.00 in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and an average price target 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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