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Verition Fund Management LLC Has $568,000 Stake in Omnicom Group Inc. (NYSE:OMC)

Omnicom Group logo with Business Services background

Verition Fund Management LLC decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 73.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,491 shares of the business services provider's stock after selling 15,253 shares during the period. Verition Fund Management LLC's holdings in Omnicom Group were worth $568,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider's stock worth $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Omnicom Group by 4.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider's stock worth $215,249,000 after buying an additional 109,406 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider's stock valued at $205,682,000 after buying an additional 364,665 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Omnicom Group by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider's stock valued at $127,398,000 after buying an additional 81,598 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Omnicom Group by 0.3% in the 2nd quarter. American Century Companies Inc. now owns 997,959 shares of the business services provider's stock valued at $89,517,000 after buying an additional 2,797 shares during the period. Institutional investors own 91.97% of the company's stock.

Omnicom Group Trading Down 0.4 %

OMC traded down $0.37 during mid-day trading on Wednesday, hitting $92.09. The stock had a trading volume of 3,392,010 shares, compared to its average volume of 1,601,619. Omnicom Group Inc. has a 1-year low of $82.97 and a 1-year high of $107.00. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock's fifty day simple moving average is $102.22 and its 200-day simple moving average is $97.32.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company posted $1.86 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Omnicom Group's dividend payout ratio is presently 38.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Macquarie reaffirmed an "outperform" rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday. Barclays lifted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an "underperform" rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their target price on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.89.

View Our Latest Stock Analysis on Omnicom Group

Insider Buying and Selling

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated 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 approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by company insiders.

Omnicom Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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