PNC Financial Services Group Inc. decreased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,077 shares of the business services provider's stock after selling 28,922 shares during the quarter. PNC Financial Services Group Inc. owned 0.12% of Omnicom Group worth $20,742,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Janney Montgomery Scott LLC increased its holdings in Omnicom Group by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,211 shares of the business services provider's stock worth $2,193,000 after acquiring an additional 423 shares in the last quarter. Sigma Planning Corp purchased a new stake in Omnicom Group in the third quarter valued at $223,000. Ashton Thomas Securities LLC acquired a new stake in shares of Omnicom Group during the third quarter valued at about $68,000. Versor Investments LP purchased a new stake in Omnicom Group in the third quarter valued at approximately $355,000. Finally, WCM Investment Management LLC acquired a new position in Omnicom Group during the 3rd quarter worth about $213,000. 91.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Omnicom Group from $121.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Macquarie reaffirmed an "outperform" rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. Argus lowered Omnicom Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company lowered 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 note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $108.25.
Read Our Latest Report on Omnicom Group
Omnicom Group Trading Down 2.5 %
NYSE OMC traded down $2.10 on Wednesday, hitting $80.41. 1,796,832 shares of the company were exchanged, compared to its average volume of 1,841,050. Omnicom Group Inc. has a twelve month low of $79.33 and a twelve month high of $107.00. The company's 50 day moving average price is $84.35 and its 200-day moving average price is $94.13. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market capitalization of $15.80 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98.
Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the previous year, the company posted $2.20 EPS. Analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.
Omnicom Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Tuesday, March 11th. Omnicom Group's dividend payout ratio (DPR) is currently 37.58%.
About Omnicom Group
(
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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