Sound Income Strategies LLC Sells 20,941 Shares of Omnicom Group Inc. (NYSE:OMC)

Sound Income Strategies LLC decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,075 shares of the business services provider’s stock after selling 20,941 shares during the quarter. Omnicom Group makes up 1.5% of Sound Income Strategies LLC’s investment portfolio, making the stock its 14th biggest holding. Sound Income Strategies LLC owned approximately 0.11% of Omnicom Group worth $20,133,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Beutel Goodman & Co Ltd. boosted its position in Omnicom Group by 1.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock valued at $363,148,000 after acquiring an additional 42,075 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Omnicom Group by 98.3% during the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after purchasing an additional 1,503,249 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Omnicom Group by 7.7% during the 4th quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock worth $224,832,000 after purchasing an additional 186,562 shares in the last quarter. Northern Trust Corp boosted its position in shares of Omnicom Group by 13.2% during the 3rd quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock worth $192,976,000 after purchasing an additional 301,927 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Omnicom Group by 1.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock worth $205,051,000 after purchasing an additional 43,861 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of Omnicom Group stock traded down $1.10 on Wednesday, reaching $88.70. 1,124,040 shares of the company traded hands, compared to its average volume of 1,597,970. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The company has a 50 day moving average of $93.04 and a 200 day moving average of $90.78. The firm has a market capitalization of $17.37 billion, a PE ratio of 11.99, a PEG ratio of 2.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.58 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. Equities analysts forecast that Omnicom Group Inc. will post 7.84 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 10th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s payout ratio is 37.84%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OMC shares. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. upped their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Macquarie increased their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. Finally, Moffett Nathanson increased their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the completion of the transaction, the director now directly owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Omnicom Group Company 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.