Bank of New York Mellon Corp Has $332.82 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Bank of New York Mellon Corp lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 40.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,014,251 shares of the business services provider's stock after selling 2,700,442 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.06% of Omnicom Group worth $332,822,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Johnson Financial Group Inc. raised its position in shares of Omnicom Group by 153.8% in the 4th 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 during the period. Versant Capital Management Inc raised its position 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 worth $38,000 after buying an additional 143 shares during the period. CoreCap Advisors LLC raised its position in shares of Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares during the period. Golden State Wealth Management LLC raised its position in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after buying an additional 343 shares during the period. Finally, Whittier Trust Co. raised its position in shares of Omnicom Group by 194.6% in the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock worth $42,000 after buying an additional 323 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OMC. UBS Group cut their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Citigroup reissued a "buy" rating and issued a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.43.

Omnicom Group Stock Performance

NYSE OMC traded up $0.76 during trading hours on Tuesday, reaching $74.60. The company's stock had a trading volume of 1,188,458 shares, compared to its average volume of 3,492,597. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $73.52 and a 200 day simple moving average of $78.79. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The stock has a market cap of $14.55 billion, a PE ratio of 10.20, a PEG ratio of 1.65 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS 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 analysts' expectations of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. Equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's dividend payout ratio is currently 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.