Worldquant Millennium Advisors LLC Takes $713,000 Position in Omnicom Group Inc. (NYSE:OMC)

Worldquant Millennium Advisors LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,892 shares of the business services provider's stock, valued at approximately $713,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of 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. Bank of New York Mellon Corp increased 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 valued at $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Cooke & Bieler LP increased its holdings in Omnicom Group by 4.8% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider's stock worth $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Omnicom Group by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider's stock worth $127,398,000 after acquiring an additional 81,598 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.

Omnicom Group Stock Down 10.2 %

NYSE OMC traded down $10.60 on Monday, reaching $92.82. The stock had a trading volume of 10,938,981 shares, compared to its average volume of 1,579,864. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.32 and a beta of 0.94. The business has a 50 day moving average price of $102.43 and a 200 day moving average price of $97.34. Omnicom Group Inc. has a 1 year low of $82.26 and a 1 year high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

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

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.02%. Omnicom Group's dividend payout ratio (DPR) is currently 38.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OMC. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock 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 company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, Macquarie increased their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $110.11.

About Omnicom Group

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.