JPMorgan Chase & Co. Trims Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

JPMorgan Chase & Co. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,119,452 shares of the business services provider's stock after selling 36,340 shares during the period. JPMorgan Chase & Co. owned 0.57% of Omnicom Group worth $115,740,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OMC. Resonant Capital Advisors LLC boosted its position in shares of Omnicom Group by 1.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider's stock valued at $613,000 after purchasing an additional 97 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Omnicom Group by 17.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider's stock valued at $66,000 after acquiring an additional 97 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in Omnicom Group by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider's stock worth $279,000 after buying an additional 100 shares in the last quarter. Iowa State Bank grew its position in Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider's stock worth $2,528,000 after purchasing an additional 101 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider's stock valued at $514,000 after acquiring an additional 102 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

Shares of OMC stock traded up $0.40 during trading hours on Thursday, hitting $86.44. 1,614,920 shares of the company's stock were exchanged, compared to its average volume of 1,640,000. Omnicom Group Inc. has a 12-month low of $84.43 and a 12-month high of $107.00. The company has a market capitalization of $16.87 billion, a PE ratio of 11.81, a PEG ratio of 2.07 and a beta of 0.94. The business's 50 day simple moving average is $97.27 and its 200-day simple moving average is $96.87. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $1.86 earnings per share. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a yield of 3.24%. Omnicom Group's payout ratio is 38.25%.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OMC. JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research note on Thursday, September 5th. Macquarie reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays boosted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

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.