Vestcor Inc Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Vestcor Inc reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,794 shares of the business services provider's stock after selling 4,764 shares during the period. Vestcor Inc's holdings in Omnicom Group were worth $843,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. ST Germain D J Co. Inc. acquired a new position in shares of Omnicom Group during the fourth quarter valued at about $25,000. Versant Capital Management Inc lifted its stake in Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider's stock valued at $27,000 after acquiring an additional 271 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after purchasing an additional 195 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Omnicom Group in the 3rd quarter worth approximately $55,000. Finally, Trust Co. of Vermont increased its position in shares of Omnicom Group by 742.4% during the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider's stock valued at $48,000 after acquiring an additional 490 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $119.00 to $116.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating for the company in a report on Tuesday, December 10th. Barclays dropped their target price on shares of Omnicom Group from $121.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Macquarie restated an "outperform" rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Argus downgraded Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $108.25.

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Omnicom Group Stock Performance

Shares of NYSE:OMC traded up $0.01 during trading on Wednesday, hitting $81.46. 2,731,330 shares of the company were exchanged, compared to its average volume of 1,862,921. 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 $78.69 and a 52-week high of $107.00. The company has a market cap of $16.01 billion, a PE ratio of 10.93, a P/E/G ratio of 1.94 and a beta of 0.98. The stock has a 50 day moving average of $83.83 and a 200 day moving average of $93.47.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates 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 firm posted $2.20 earnings per share. As a group, equities research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.44%. 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

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.