Comerica Bank trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,348 shares of the business services provider's stock after selling 8,679 shares during the quarter. Comerica Bank's holdings in Omnicom Group were worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. ST Germain D J Co. Inc. bought a new stake in Omnicom Group in the fourth quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider's stock worth $27,000 after purchasing an additional 271 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after purchasing an additional 195 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in Omnicom Group by 153.8% during the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Omnicom Group by 194.6% in the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock valued at $42,000 after buying an additional 323 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.
Omnicom Group Stock Performance
Shares of NYSE:OMC opened at $75.83 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00. The stock has a market capitalization of $14.79 billion, a P/E ratio of 10.18, a P/E/G ratio of 1.94 and a beta of 0.95. The business has a 50-day moving average price of $77.63 and a two-hundred day moving average price of $87.01.
Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.
Omnicom Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.69%. Omnicom Group's dividend payout ratio is currently 38.30%.
Wall Street Analysts Forecast Growth
OMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. UBS Group decreased their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Argus cut Omnicom Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Finally, Citigroup reissued a "buy" rating and set a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.29.
Read Our Latest Report on Omnicom Group
About Omnicom Group
(
Free Report)
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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