Keybank National Association OH lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 39.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,963 shares of the business services provider’s stock after selling 3,890 shares during the period. Keybank National Association OH’s holdings in Omnicom Group were worth $506,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Glenview Trust Co boosted its holdings in shares of Omnicom Group by 0.8% during the 4th quarter. Glenview Trust Co now owns 17,992 shares of the business services provider’s stock valued at $1,318,000 after buying an additional 135 shares in the last quarter. People s United Financial Inc. boosted its holdings in shares of Omnicom Group by 4.2% during the 4th quarter. People s United Financial Inc. now owns 3,785 shares of the business services provider’s stock valued at $277,000 after buying an additional 151 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Omnicom Group by 1.8% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,018 shares of the business services provider’s stock valued at $661,000 after buying an additional 158 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Omnicom Group by 2.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 8,205 shares of the business services provider’s stock valued at $601,000 after buying an additional 158 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Omnicom Group by 20.3% during the 4th quarter. Quadrant Capital Group LLC now owns 948 shares of the business services provider’s stock valued at $69,000 after buying an additional 160 shares in the last quarter. Institutional investors own 93.08% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on OMC. Morgan Stanley lowered their price target on Omnicom Group from $84.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, June 10th. StockNews.com raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Edward Jones lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 23rd. Finally, Citigroup lowered their price target on Omnicom Group from $106.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.80.
Omnicom Group Price Performance
Shares of NYSE:OMC opened at $70.06 on Thursday. Omnicom Group Inc. has a fifty-two week low of $61.31 and a fifty-two week high of $91.61. The business has a 50-day simple moving average of $68.51 and a two-hundred day simple moving average of $75.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 3.97 and a beta of 0.82.
Omnicom Group (NYSE:OMC – Get Rating) last issued its earnings results on Tuesday, July 19th. The business services provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Omnicom Group had a return on equity of 37.06% and a net margin of 9.06%. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Omnicom Group’s revenue was down .1% on a year-over-year basis. On average, analysts expect that Omnicom Group Inc. will post 6.33 earnings per share for the current year.
Omnicom Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Tuesday, September 20th. Omnicom Group’s payout ratio is currently 46.43%.
In other news, Director Linda Johnson Rice sold 1,900 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $77.88, for a total transaction of $147,972.00. Following the completion of the sale, the director now owns 9,784 shares of the company’s stock, valued at approximately $761,977.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company’s services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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