Sumitomo Mitsui Trust Group Inc. Grows Position in Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,716 shares of the business services provider's stock after purchasing an additional 11,622 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Omnicom Group worth $42,841,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. increased its holdings 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 last quarter. Versant Capital Management Inc lifted its stake 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 valued at $38,000 after purchasing an additional 143 shares during the last quarter. CoreCap Advisors LLC lifted its stake 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 valued at $40,000 after purchasing an additional 404 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares during the period. Finally, Whittier Trust Co. raised its holdings in Omnicom Group by 194.6% during the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock valued at $42,000 after buying an additional 323 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OMC. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. UBS Group dropped their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note 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 downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company cut their target price on 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.43.

Omnicom Group Trading Down 0.4%

OMC traded down $0.31 on Thursday, reaching $74.71. 2,279,954 shares of the company traded hands, compared to its average volume of 2,604,548. The company has a market cap of $14.58 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The firm has a fifty day simple moving average of $73.59 and a two-hundred day simple moving average of $79.23.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. As a group, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.75%. Omnicom Group's payout ratio is currently 38.30%.

Omnicom Group Company Profile

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.