Alliancebernstein L.P. Cuts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Alliancebernstein L.P. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,181 shares of the business services provider's stock after selling 4,120 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Omnicom Group worth $18,858,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. World Investment Advisors LLC increased its holdings in shares of Omnicom Group by 209.7% in the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider's stock worth $2,720,000 after buying an additional 17,815 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Omnicom Group during the third quarter worth approximately $713,000. Franklin Resources Inc. raised its position in Omnicom Group by 19.7% during the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider's stock valued at $23,860,000 after purchasing an additional 38,022 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in Omnicom Group by 15.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 376,701 shares of the business services provider's stock valued at $32,411,000 after purchasing an additional 50,153 shares during the period. Finally, Arvest Bank Trust Division bought a new stake in shares of Omnicom Group in the 3rd quarter valued at approximately $21,191,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Barclays lowered their target price on shares of Omnicom Group from $121.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Argus downgraded shares of Omnicom Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, UBS Group decreased their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $104.43.

Omnicom Group Trading Up 2.1 %

Shares of NYSE:OMC traded up $1.58 during trading on Friday, reaching $75.56. 3,018,198 shares of the company were exchanged, compared to its average volume of 2,144,307. The business's fifty day simple moving average is $80.50 and its 200-day simple moving average is $90.38. The firm has a market capitalization of $14.85 billion, a PE ratio of 10.14, a P/E/G ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a 12-month low of $69.13 and a 12-month high of $107.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the previous year, the business posted $2.20 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.71%. Omnicom Group's dividend payout ratio is presently 37.58%.

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.