Omnicom Group Inc. $OMC Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 20.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 263,649 shares of the business services provider's stock after selling 69,667 shares during the period. M&T Bank Corp owned about 0.14% of Omnicom Group worth $21,290,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC purchased a new stake in shares of Omnicom Group in the 3rd quarter worth about $515,145,000. Bank of New York Mellon Corp grew its stake in Omnicom Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider's stock valued at $542,376,000 after acquiring an additional 2,820,553 shares during the last quarter. State Street Corp grew its position in shares of Omnicom Group by 15.8% in the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider's stock valued at $1,384,980,000 after purchasing an additional 2,298,652 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider's stock valued at $660,969,000 after buying an additional 1,893,316 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Omnicom Group by 122.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,663,251 shares of the business services provider's stock worth $135,605,000 after acquiring an additional 914,885 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $76.76 on Friday. The stock has a fifty day moving average price of $77.89 and a 200 day moving average price of $76.89. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The firm has a market capitalization of $21.88 billion, a P/E ratio of 156.65, a PEG ratio of 0.60 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The firm's quarterly revenue was up 27.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.41 earnings per share. Equities research analysts anticipate that Omnicom Group Inc. will post 10.92 earnings per share for the current year.

Omnicom Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 11th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. Omnicom Group's dividend payout ratio (DPR) is currently 653.06%.

Wall Street Analysts Forecast Growth

OMC has been the subject of several analyst reports. Citigroup boosted their target price on shares of Omnicom Group from $103.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 20th. UBS Group raised their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Bank of America reiterated an "underperform" rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Argus raised shares of Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. Finally, Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of "Hold" and an average target price of $95.86.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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