Bessemer Group Inc. Sells 22,222 Shares of Omnicom Group Inc. (NYSE:OMC)

Bessemer Group Inc. lessened its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 60.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,610 shares of the business services provider's stock after selling 22,222 shares during the quarter. Bessemer Group Inc.'s holdings in Omnicom Group were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OMC. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Omnicom Group by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 77,200 shares of the business services provider's stock worth $6,642,000 after purchasing an additional 1,300 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Omnicom Group in the 4th quarter worth approximately $5,125,000. Private Trust Co. NA raised its holdings in Omnicom Group by 76.7% during the 4th quarter. Private Trust Co. NA now owns 1,067 shares of the business services provider's stock valued at $92,000 after acquiring an additional 463 shares during the period. SVB Wealth LLC bought a new stake in Omnicom Group during the 4th quarter valued at $1,040,000. Finally, Metis Global Partners LLC raised its holdings in Omnicom Group by 3.5% during the 4th quarter. Metis Global Partners LLC now owns 6,521 shares of the business services provider's stock valued at $561,000 after acquiring an additional 219 shares during the period. Institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. UBS Group lowered their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Citigroup reissued a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and four 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 $96.43.

Omnicom Group Stock Up 0.3%

OMC opened at $71.44 on Monday. The company has a fifty day moving average price of $73.55 and a 200-day moving average price of $79.42. The firm has a market capitalization of $13.94 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors 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 yield of 3.92%. Omnicom Group's dividend payout ratio (DPR) is presently 38.30%.

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.

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