River Global Investors LLP trimmed its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 47.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,516 shares of the business services provider's stock after selling 10,548 shares during the quarter. River Global Investors LLP's holdings in Omnicom Group were worth $991,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Omnicom Group during the 4th quarter worth approximately $79,321,000. State Street Corp increased its position in Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider's stock worth $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. World Investment Advisors LLC raised its stake in Omnicom Group by 4,413.3% during the third quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider's stock valued at $39,645,000 after purchasing an additional 374,952 shares in the last quarter. Arvest Bank Trust Division bought a new position in Omnicom Group during the third quarter valued at $21,191,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider's stock worth $577,732,000 after buying an additional 156,438 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Macquarie restated an "outperform" rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective 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. Barclays dropped their target price on Omnicom Group from $121.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Argus lowered Omnicom Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price target on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $108.25.
Check Out Our Latest Stock Analysis on Omnicom Group
Omnicom Group Trading Down 3.1 %
OMC stock traded down $2.54 during midday trading on Wednesday, reaching $79.98. The company's stock had a trading volume of 4,568,186 shares, compared to its average volume of 1,851,719. Omnicom Group Inc. has a 1 year low of $79.33 and a 1 year high of $107.00. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.94 and a beta of 0.98. The stock has a fifty day simple moving average of $84.35 and a two-hundred day simple moving average of $94.13. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00.
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, topping 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 period in the prior year, the firm posted $2.20 EPS. On average, equities 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 paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group's dividend payout ratio is presently 37.58%.
Omnicom Group Company 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.
See Also
Before you consider Omnicom Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Omnicom Group wasn't on the list.
While Omnicom Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
