Principal Financial Group Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,563,120 shares of the business services provider's stock after selling 124,433 shares during the period. Principal Financial Group Inc. owned approximately 0.80% of Omnicom Group worth $134,491,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in Omnicom Group by 17.9% during 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 purchasing an additional 97 shares in the last quarter. Integrated Advisors Network LLC boosted its stake 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 valued at $279,000 after buying an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in 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 buying an additional 102 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Omnicom Group by 1.8% during the third quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider's stock worth $683,000 after acquiring an additional 113 shares during the period. Finally, Metis Global Partners LLC raised its position in Omnicom Group by 1.9% in the third quarter. Metis Global Partners LLC now owns 6,302 shares of the business services provider's stock worth $652,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.
Wall Street Analyst Weigh In
OMC has been the subject of several research reports. Argus lowered shares of Omnicom Group from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of 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 dropped their price target on Omnicom Group from $121.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Macquarie reissued an "outperform" rating and set a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.25.
Check Out Our Latest Report on Omnicom Group
Omnicom Group Trading Down 1.6 %
NYSE OMC traded down $1.34 on Friday, hitting $82.27. 2,198,586 shares of the stock were exchanged, compared to its average volume of 2,530,070. The company's 50-day moving average price is $85.60 and its two-hundred day moving average price is $95.21. 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 Inc. has a 52-week low of $80.31 and a 52-week high of $107.00. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.94 and a beta of 0.97.
Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating 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 quarter last year, the business earned $2.20 EPS. Research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.
Omnicom Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, March 11th. Omnicom Group's dividend payout ratio (DPR) is 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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