Wells Fargo & Company MN trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,774 shares of the business services provider's stock after selling 76,142 shares during the quarter. Wells Fargo & Company MN owned 0.29% of Omnicom Group worth $49,281,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Omnicom Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock valued at $1,982,518,000 after purchasing an additional 99,424 shares during the period. Bank of New York Mellon Corp grew its position 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 valued at $577,732,000 after buying an additional 156,438 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Omnicom Group by 50.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after buying an additional 1,992,695 shares during the period. Geode Capital Management LLC raised its position in shares of Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after acquiring an additional 51,148 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Omnicom Group by 7.1% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock worth $292,698,000 after acquiring an additional 224,870 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Omnicom Group Stock Up 1.0 %
NYSE:OMC traded up $0.73 on Tuesday, hitting $77.27. The stock had a trading volume of 931,049 shares, compared to its average volume of 2,145,459. The company has a market cap of $15.19 billion, a PE ratio of 10.37, a P/E/G ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a 52 week low of $69.13 and a 52 week high of $107.00. The business's fifty day moving average is $80.34 and its 200 day moving average is $90.11. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.
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 (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 period in the prior year, the company posted $2.20 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.62%. Omnicom Group's dividend payout ratio is presently 37.58%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on OMC shares. Citigroup reissued a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday. Barclays decreased their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $119.00 to $116.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a report on Thursday, March 20th. 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 given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.25.
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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.
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