Omnicom Group Inc. (NYSE:OMC) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 40.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,014,251 shares of the business services provider's stock after selling 2,700,442 shares during the period. Bank of New York Mellon Corp owned about 2.06% of Omnicom Group worth $332,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Omnicom Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock valued at $1,982,518,000 after purchasing an additional 99,424 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after purchasing an additional 1,992,695 shares in the last quarter. Geode Capital Management LLC grew its position in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock valued at $442,453,000 after purchasing an additional 51,148 shares in the last quarter. First Trust Advisors LP grew its position in Omnicom Group by 23.8% in the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock worth $334,076,000 after acquiring an additional 747,575 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in Omnicom Group by 7.1% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock worth $292,698,000 after acquiring an additional 224,870 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

NYSE OMC opened at $74.71 on Monday. 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 company has a fifty day simple moving average of $73.55 and a 200 day simple moving average of $78.90. The company has a market cap of $14.58 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.65 and a beta of 0.92. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. On average, sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Tuesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is presently 38.30%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research report on Monday, June 23rd. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Citigroup reissued a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, UBS Group decreased their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.43.

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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