Kesler Norman & Wride LLC Sells 6,869 Shares of Omnicom Group Inc. $OMC

Kesler Norman & Wride LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 37.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,449 shares of the business services provider’s stock after selling 6,869 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Omnicom Group were worth $985,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC increased its holdings in Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 318 shares during the period. Harbor Asset Planning Inc. bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $34,000. City Holding Co. increased its stake in shares of Omnicom Group by 1,373.5% in the third quarter. City Holding Co. now owns 501 shares of the business services provider’s stock valued at $41,000 after buying an additional 467 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Omnicom Group during the second quarter worth about $37,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on OMC shares. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Bank of America restated an “underperform” rating and issued a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Morgan Stanley initiated coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Barclays lifted their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, UBS Group boosted their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.14.

Omnicom Group Stock Up 0.3%

Shares of NYSE OMC opened at $79.05 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $76.09 and its 200 day simple moving average is $75.98. The firm has a market cap of $15.26 billion, a PE ratio of 11.68, a P/E/G ratio of 1.31 and a beta of 0.74. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $89.35.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. Omnicom Group’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were paid a dividend of $0.80 per share. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, December 19th. Omnicom Group’s dividend payout ratio is presently 47.27%.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.