Omnicom Group Inc. (NYSE:OMC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its position in Omnicom Group Inc. (NYSE:OMC) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,975 shares of the business services provider’s stock after selling 1,649 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Omnicom Group were worth $2,493,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Omnicom Group by 5.7% during the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. Geode Capital Management LLC raised its position in Omnicom Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after buying an additional 72,447 shares during the period. Barclays PLC raised its position in Omnicom Group by 1.7% during the third quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after buying an additional 13,637 shares during the period. Millennium Management LLC raised its position in Omnicom Group by 73.0% during the second quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after buying an additional 324,196 shares during the period. Finally, Bank of Montreal Can increased its position in Omnicom Group by 23.6% in the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock worth $72,465,000 after purchasing an additional 134,927 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OMC shares. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. Barclays decreased their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $87.49 on Monday. The company has a fifty day moving average price of $91.65 and a 200 day moving average price of $96.44. Omnicom Group Inc. has a 1-year low of $81.42 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. The firm has a market cap of $17.07 billion, a PE ratio of 11.91, a PEG ratio of 1.88 and a beta of 0.98.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. Omnicom Group’s dividend payout ratio is 38.25%.

Omnicom Group Profile

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.