Exchange Traded Concepts LLC Cuts Position in Omnicom Group Inc. (NYSE:OMC)

Exchange Traded Concepts LLC cut its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 52.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,867 shares of the business services provider's stock after selling 11,027 shares during the period. Exchange Traded Concepts LLC's holdings in Omnicom Group were worth $818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Omnicom Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock worth $1,982,518,000 after acquiring an additional 99,424 shares in the last quarter. Bank of New York Mellon Corp grew its position in Omnicom Group by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider's stock worth $577,732,000 after acquiring an additional 156,438 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 50.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after acquiring an additional 1,992,695 shares in the last quarter. Geode Capital Management LLC boosted its position in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock valued at $442,453,000 after buying an additional 51,148 shares during the period. Finally, First Trust Advisors LP boosted its position in Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock valued at $334,076,000 after buying an additional 747,575 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OMC. Barclays cut their price target on shares of Omnicom Group from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. UBS Group cut their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Citigroup restated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their price target on shares of 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. 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 company's stock. According to data from MarketBeat.com, Omnicom Group has a consensus rating of "Moderate Buy" and an average price target of $101.29.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $69.43 on Friday. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. The company has a 50-day moving average price of $73.93 and a 200-day moving average price of $80.77. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.73 billion. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's payout ratio is currently 38.30%.

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.

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