Principal Financial Group Inc. Sells 124,433 Shares of Omnicom Group Inc. (NYSE:OMC)

Principal Financial Group Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,563,120 shares of the business services provider’s stock after selling 124,433 shares during the quarter. Principal Financial Group Inc.’s holdings in Omnicom Group were worth $134,491,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OMC. State Street Corp increased its position in shares of Omnicom Group by 5.7% during the 3rd 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. World Investment Advisors LLC increased its position in shares of Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock valued at $39,645,000 after purchasing an additional 374,952 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Omnicom Group by 389,021.8% during the 3rd quarter. International Assets Investment Management LLC now owns 214,017 shares of the business services provider’s stock valued at $22,127,000 after purchasing an additional 213,962 shares during the last quarter. Arvest Bank Trust Division bought a new position in shares of Omnicom Group during the 3rd quarter valued at approximately $21,191,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Omnicom Group by 46.0% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 495,511 shares of the business services provider’s stock valued at $42,634,000 after purchasing an additional 156,173 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $83.34 on Wednesday. Omnicom Group Inc. has a twelve month low of $80.31 and a twelve month high of $107.00. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.94 and a beta of 0.97. The stock has a fifty day simple moving average of $86.08 and a two-hundred day simple moving average of $95.44. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, analysts predict that Omnicom Group Inc. will post 8.32 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

Analyst Ratings Changes

Several research firms have recently weighed in on OMC. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company dropped their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Barclays dropped their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Company 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.