Greenleaf Trust Cuts Position in Omnicom Group Inc. (NYSE:OMC)

Greenleaf Trust trimmed its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,472 shares of the business services provider's stock after selling 6,372 shares during the quarter. Greenleaf Trust's holdings in Omnicom Group were worth $1,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Merit Financial Group LLC boosted its position in Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after acquiring an additional 4,690 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Omnicom Group by 13.9% during the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after purchasing an additional 913 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Omnicom Group in the 1st quarter worth $1,357,000. Finally, Asset Management One Co. Ltd. raised its stake in Omnicom Group by 10.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock worth $6,755,000 after acquiring an additional 7,665 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group reduced their price objective on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Citigroup restated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company lowered their price objective on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Omnicom Group has a consensus rating of "Moderate Buy" and a consensus price target of $95.29.

Omnicom Group Price Performance

OMC stock traded down $0.12 during trading on Friday, hitting $73.31. The stock had a trading volume of 1,308,498 shares, compared to its average volume of 2,655,649. 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 twelve month low of $68.37 and a twelve month high of $107.00. The stock has a market capitalization of $14.30 billion, a P/E ratio of 10.03, a PEG ratio of 1.60 and a beta of 0.92. The company's 50-day moving average price is $73.38 and its two-hundred day moving average price is $78.63.

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

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Tuesday, June 10th. Omnicom Group's payout ratio 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.