Raymond James & Associates Trims Stake in Omnicom Group Inc. (NYSE:OMC)

Raymond James & Associates cut its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 426,518 shares of the business services provider's stock after selling 51,743 shares during the period. Raymond James & Associates owned about 0.22% of Omnicom Group worth $38,259,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Marino Stram & Associates LLC grew its stake in shares of Omnicom Group by 1.0% in the first quarter. Marino Stram & Associates LLC now owns 11,613 shares of the business services provider's stock worth $1,124,000 after purchasing an additional 110 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider's stock valued at $413,000 after acquiring an additional 119 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Omnicom Group by 18.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider's stock valued at $70,000 after acquiring an additional 119 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Omnicom Group by 2.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider's stock valued at $594,000 after acquiring an additional 122 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its position in Omnicom Group by 2.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,955 shares of the business services provider's stock valued at $428,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Down 0.7 %

Shares of OMC traded down $0.65 on Tuesday, reaching $96.26. The company's stock had a trading volume of 1,010,139 shares, compared to its average volume of 1,607,854. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $98.71. The stock has a market capitalization of $18.85 billion, a PE ratio of 13.01, a PEG ratio of 2.24 and a beta of 0.95. The firm has a fifty day moving average of $92.03 and a 200-day moving average of $92.17.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.91%. Omnicom Group's dividend payout ratio is presently 37.84%.

Wall Street Analyst Weigh In

A number of analysts have commented on OMC shares. Barclays raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie reaffirmed an "outperform" rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, UBS Group upped their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Omnicom Group has an average rating of "Moderate Buy" and a consensus price target of $104.70.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 488 shares of the company's stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.