Northern Trust Corp Lowers Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Northern Trust Corp has reduced its stake in Omnicom Group by 6.2%, selling 151,828 shares to own approximately 1.18% of the company, valued at $190.61 million.
• Several analysts have adjusted their ratings and price targets on Omnicom Group, with JPMorgan reducing its target from $104.00 to $96.00 and Barclays downgrading from "overweight" to "equal weight."
• Omnicom Group announced a quarterly dividend of $0.70 per share, set to be paid on October 10th, with a current dividend yield of 3.6%.

Northern Trust Corp decreased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,299,011 shares of the business services provider's stock after selling 151,828 shares during the quarter. Northern Trust Corp owned approximately 1.18% of Omnicom Group worth $190,611,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Omnicom Group in the 4th quarter worth $3,015,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Omnicom Group in the 4th quarter worth $523,000. Natixis lifted its stake in Omnicom Group by 24.2% in the 4th quarter. Natixis now owns 5,037 shares of the business services provider's stock worth $433,000 after purchasing an additional 981 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Omnicom Group by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 51,607 shares of the business services provider's stock worth $4,440,000 after purchasing an additional 773 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Omnicom Group by 5.5% in the 4th quarter. MML Investors Services LLC now owns 61,597 shares of the business services provider's stock worth $5,300,000 after purchasing an additional 3,225 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on OMC shares. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Trading Down 0.3%

NYSE:OMC opened at $77.4670 on Friday. The firm has a 50 day moving average of $73.24 and a 200 day moving average of $76.19. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.54 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.95 earnings per share. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group's dividend payout ratio is presently 40.17%.

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.

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