Gamco Investors INC. ET AL Sells 34,683 Shares of Omnicom Group Inc. $OMC

Gamco Investors INC. ET AL trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 16.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,539 shares of the business services provider’s stock after selling 34,683 shares during the period. Gamco Investors INC. ET AL’s holdings in Omnicom Group were worth $13,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OMC. Vanguard Group Inc. raised its position in shares of Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after buying an additional 15,220,444 shares in the last quarter. State Street Corp lifted its holdings in shares of Omnicom Group by 40.4% during the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Omnicom Group by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 12,098,191 shares of the business services provider’s stock worth $911,115,000 after acquiring an additional 814,328 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after acquiring an additional 3,117,188 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Omnicom Group by 5.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock valued at $635,538,000 after acquiring an additional 433,461 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Trading Up 2.3%

NYSE OMC opened at $79.70 on Friday. The stock has a market capitalization of $22.72 billion, a P/E ratio of 204.37, a P/E/G ratio of 0.48 and a beta of 0.63. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The business has a 50 day simple moving average of $76.40 and a 200 day simple moving average of $76.77.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the company posted $1.70 earnings per share. The business’s quarterly revenue was up 69.2% on a year-over-year basis. Research analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is 820.51%.

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.