Resonant Capital Advisors LLC lessened its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 12.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,394 shares of the business services provider’s stock after selling 781 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Omnicom Group were worth $470,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. First Trust Advisors LP boosted its position in Omnicom Group by 683.2% in the 1st quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock valued at $251,016,000 after buying an additional 2,579,717 shares during the period. Lazard Asset Management LLC boosted its position in Omnicom Group by 98.3% in the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock valued at $225,842,000 after buying an additional 1,503,249 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Omnicom Group by 81.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock valued at $144,111,000 after buying an additional 683,810 shares during the period. Boston Partners boosted its position in Omnicom Group by 21.7% in the 3rd quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after buying an additional 664,800 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Omnicom Group in the 1st quarter valued at approximately $59,124,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Omnicom Group Price Performance
Shares of NYSE:OMC opened at $92.62 on Friday. The company’s fifty day moving average price is $91.51 and its 200 day moving average price is $85.32. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.86. The firm has a market capitalization of $18.14 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.15 and a beta of 0.97.
Omnicom Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 3.02%. Omnicom Group’s dividend payout ratio is currently 37.84%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on OMC. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $91.00 to $106.00 in a research report on Wednesday. Macquarie raised their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, March 28th. Finally, Moffett Nathanson raised their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average target price of $103.40.
View Our Latest Research Report on Omnicom Group
Insider Buying and Selling
In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now directly owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.
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.
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