Insider Selling: Omnicom Group (NYSE:OMC) Director Sells $122,891.05 in Stock

Omnicom Group Inc. (NYSE:OMC) Director Linda Johnson Rice sold 1,385 shares of the business’s 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 completion of the transaction, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $88.32 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 76.14, a PEG ratio of 0.58 and a beta of 0.64. The firm’s 50 day simple moving average is $81.71 and its 200-day simple moving average is $78.19. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the company posted $2.05 earnings per share. The business’s quarterly revenue 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

Analyst Ratings Changes

A number of brokerages have issued reports on OMC. Morgan Stanley increased their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Wells Fargo & Company upped their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average 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 made changes to their positions in the company. Corient Private Wealth LP raised its stake in Omnicom Group by 2.7% in the 2nd quarter. Corient Private Wealth LP now owns 115,326 shares of the business services provider’s stock valued at $8,400,000 after purchasing an additional 3,000 shares during the last quarter. Amundi boosted its stake in Omnicom Group by 40.0% during the 2nd quarter. Amundi now owns 1,360,280 shares of the business services provider’s stock worth $99,067,000 after purchasing an additional 388,581 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Omnicom Group by 0.5% during the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock worth $534,806,000 after buying an additional 40,096 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Omnicom Group by 6,250.5% during the second quarter. California State Teachers Retirement System now owns 33,804,190 shares of the business services provider’s stock worth $2,461,959,000 after buying an additional 33,271,882 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of Omnicom Group in the second quarter valued at about $228,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.