Millennium Management LLC Sells 55,796 Shares of Omnicom Group Inc. (NYSE:OMC)

Millennium Management LLC lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,198 shares of the business services provider's stock after selling 55,796 shares during the period. Millennium Management LLC owned about 0.23% of Omnicom Group worth $38,305,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after buying an additional 195 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Omnicom Group by 708.8% during the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares in the last quarter. Whittier Trust Co. boosted its stake in Omnicom Group by 194.6% during the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock worth $42,000 after buying an additional 323 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in Omnicom Group by 742.4% during the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider's stock worth $48,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OMC shares. Citigroup restated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Argus downgraded shares of Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Barclays reduced 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 reduced 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, Wells Fargo & Company reduced 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. One 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 MarketBeat, Omnicom Group currently has an average rating of "Moderate Buy" and a consensus price target of $101.29.

Omnicom Group Price Performance

Shares of Omnicom Group stock traded up $0.04 during trading on Friday, reaching $73.17. The company's stock had a trading volume of 2,302,027 shares, compared to its average volume of 2,261,907. The stock has a 50-day moving average price of $76.19 and a two-hundred day moving average price of $84.87. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a one year low of $69.13 and a one year high of $107.00. The stock has a market capitalization of $14.28 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

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, beating analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The business had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.73 billion. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. Omnicom Group's dividend payout ratio is 38.30%.

About Omnicom Group

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.