Handelsbanken Fonder AB reduced its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 46.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,405 shares of the business services provider's stock after selling 44,646 shares during the quarter. Handelsbanken Fonder AB's holdings in Omnicom Group were worth $4,262,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Omnicom Group by 13.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider's stock valued at $105,000 after purchasing an additional 147 shares during the last quarter. MGO One Seven LLC boosted its stake in shares of Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock valued at $437,000 after purchasing an additional 157 shares during the last quarter. Convergence Financial LLC boosted its stake in shares of Omnicom Group by 6.5% in the 4th quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider's stock valued at $232,000 after purchasing an additional 165 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Omnicom Group by 146.6% in the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock valued at $28,000 after purchasing an additional 195 shares during the last quarter. 91.97% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on OMC shares. Citigroup reissued a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Wells Fargo & Company cut 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 research note on Wednesday, April 16th. Barclays cut their target price on shares of Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group cut their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.29.
Get Our Latest Stock Report on Omnicom Group
Omnicom Group Stock Down 2.5%
OMC traded down $1.77 during trading on Friday, hitting $69.42. 3,958,703 shares of the company's stock were exchanged, compared to its average volume of 2,417,626. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The business's 50 day moving average is $74.30 and its two-hundred day moving average is $81.57. Omnicom Group Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $107.00. The stock has a market cap of $13.54 billion, a P/E ratio of 9.32, a PEG ratio of 1.94 and a beta of 0.93.
Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. As a group, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued 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 4.03%. Omnicom Group's dividend payout ratio is currently 38.30%.
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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