Omnicom Group Inc. (NYSE:OMC) Position Lessened by Weiss Asset Management LP

Weiss Asset Management LP lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 39.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139,885 shares of the business services provider's stock after selling 90,752 shares during the quarter. Weiss Asset Management LP owned approximately 0.07% of Omnicom Group worth $14,463,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OMC. State Street Corp lifted its position in Omnicom Group by 5.7% during 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 buying an additional 759,980 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 37.0% during the 2nd 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 acquiring an additional 892,494 shares during the period. Cooke & Bieler LP boosted its position in shares of Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider's stock worth $215,249,000 after acquiring an additional 109,406 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider's stock worth $205,682,000 after purchasing an additional 364,665 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Omnicom Group by 6.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider's stock worth $127,398,000 after purchasing an additional 81,598 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OMC. Bank of America boosted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an "underperform" rating in a research note on Thursday, September 5th. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Macquarie lifted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Barclays increased their target price 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $110.11.

Omnicom Group Stock Down 0.1 %

Shares of OMC traded down $0.07 during mid-day trading on Friday, reaching $103.07. 375,864 shares of the stock traded hands, compared to its average volume of 1,536,950. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 2.33 and a beta of 0.94. The stock has a fifty day simple moving average of $102.63 and a 200 day simple moving average of $97.27. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12-month low of $81.41 and a 12-month high of $107.00.

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

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.72%. Omnicom Group's payout ratio is 38.25%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on 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 directly owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

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.