RNC Capital Management LLC Sells 9,337 Shares of Omnicom Group Inc. (NYSE:OMC)

RNC Capital Management LLC trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 432,871 shares of the business services provider’s stock after selling 9,337 shares during the quarter. Omnicom Group accounts for approximately 2.5% of RNC Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. RNC Capital Management LLC owned approximately 0.20% of Omnicom Group worth $35,474,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its position in shares of Omnicom Group by 117.0% during the second quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock worth $33,000 after purchasing an additional 220 shares during the last quarter. Marino Stram & Associates LLC bought a new stake in shares of Omnicom Group during the first quarter worth $30,000. Penserra Capital Management LLC bought a new stake in shares of Omnicom Group during the first quarter worth $40,000. Legacy Advisors LLC bought a new stake in shares of Omnicom Group during the first quarter worth $55,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Omnicom Group by 557.1% during the first quarter. Quadrant Capital Group LLC now owns 1,150 shares of the business services provider’s stock worth $81,000 after purchasing an additional 975 shares during the last quarter.

Shares of NYSE:OMC traded down $1.99 on Monday, hitting $76.58. 38,855 shares of the company’s stock were exchanged, compared to its average volume of 2,063,971. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.85 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $81.83. The company has a market capitalization of $17.09 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 2.56 and a beta of 0.71. Omnicom Group Inc. has a 12 month low of $65.85 and a 12 month high of $85.05.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, July 17th. The business services provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.07. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.72 billion. Omnicom Group had a return on equity of 43.86% and a net margin of 8.89%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 6.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.60 annualized dividend and a dividend yield of 3.40%. Omnicom Group’s payout ratio is currently 45.22%.

OMC has been the subject of several research analyst reports. ValuEngine downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays reiterated a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research report on Sunday, July 21st. Finally, BMO Capital Markets downgraded Omnicom Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $88.00 to $86.00 in a research report on Sunday, July 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.33.

In related news, SVP Andrew Castellaneta sold 2,000 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $80.16, for a total value of $160,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Wren sold 60,541 shares of Omnicom Group stock in a transaction dated Wednesday, May 22nd. The shares were 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 own 1.10% of the company’s stock.

Omnicom Group Company 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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