World Investment Advisors decreased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 32.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,953 shares of the business services provider's stock after selling 10,043 shares during the quarter. World Investment Advisors' holdings in Omnicom Group were worth $1,737,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC lifted its holdings in shares of Omnicom Group by 157.9% in the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock worth $635,000 after buying an additional 4,690 shares during the period. Golden State Wealth Management LLC increased its position in shares of Omnicom Group by 230.2% in the first 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 in the last quarter. Fifth Third Bancorp increased its position in shares of Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after purchasing an additional 913 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Omnicom Group during the 1st quarter worth $1,357,000. Finally, Asset Management One Co. Ltd. increased its position in shares of Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock valued at $6,755,000 after acquiring an additional 7,665 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.
Omnicom Group Trading Down 2.6%
Shares of OMC stock traded down $1.96 on Wednesday, reaching $72.70. 6,500,878 shares of the stock were exchanged, compared to its average volume of 2,648,879. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. The stock has a market cap of $14.18 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.92. The firm has a 50 day moving average of $73.49 and a two-hundred day moving average of $78.76. 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 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 analysts' expectations of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Tuesday, June 10th. Omnicom Group's payout ratio is 38.30%.
Wall Street Analyst Weigh In
OMC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective 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. UBS Group dropped their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a report on Monday, June 23rd. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Citigroup restated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $96.43.
Read Our Latest Report on OMC
About Omnicom Group
(
Free Report)
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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