Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 7.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 480,240 shares of the business services provider’s stock after selling 39,391 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Omnicom Group worth $43,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norden Group LLC acquired a new position in Omnicom Group in the first quarter valued at approximately $1,860,000. Kodai Capital Management LP purchased a new stake in Omnicom Group during the fourth quarter worth $27,419,000. Truist Financial Corp grew its position in Omnicom Group by 4.8% during the fourth quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock valued at $40,097,000 after buying an additional 21,018 shares during the period. Morningstar Investment Services LLC increased its holdings in Omnicom Group by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after buying an additional 595,746 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Omnicom Group in the first quarter worth about $1,534,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group boosted their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.70.

Omnicom Group Stock Up 0.4 %

NYSE OMC opened at $96.58 on Monday. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $98.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The business has a fifty day moving average price of $91.76 and a 200 day moving average price of $92.07. The company has a market cap of $18.91 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.24 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

About Omnicom Group

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.