Invesco Ltd. lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,463,287 shares of the business services provider's stock after selling 343,015 shares during the period. Invesco Ltd. owned approximately 1.26% of Omnicom Group worth $204,231,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in OMC. Johnson Financial Group Inc. increased its holdings in shares of Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Omnicom Group during the first quarter worth approximately $34,000. Versant Capital Management Inc raised its position in shares of Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after purchasing an additional 143 shares during the period. CoreCap Advisors LLC boosted its stake in Omnicom Group by 708.8% during the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in 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. Institutional investors and hedge funds own 91.97% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on OMC. Wells Fargo & Company cut their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.
View Our Latest Stock Analysis on OMC
Omnicom Group Stock Performance
Shares of NYSE:OMC traded up $0.33 during mid-day trading on Monday, reaching $76.64. The company had a trading volume of 400,191 shares, compared to its average volume of 3,639,260. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.51 and a beta of 0.94. The company's 50-day moving average price is $72.84 and its 200-day moving average price is $76.31. 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 issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business's revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 earnings per share. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. Omnicom Group's payout ratio is presently 40.17%.
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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