Omnicom Group Inc. (NYSE:OMC) Stake Lowered by RNC Capital Management LLC

RNC Capital Management LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,126 shares of the business services provider's stock after selling 12,377 shares during the quarter. RNC Capital Management LLC's holdings in Omnicom Group were worth $530,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Schechter Investment Advisors LLC boosted its holdings in shares of Omnicom Group by 82.9% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,534 shares of the business services provider's stock worth $652,000 after buying an additional 3,414 shares during the period. Tectonic Advisors LLC boosted its holdings in Omnicom Group by 6.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,886 shares of the business services provider's stock valued at $336,000 after purchasing an additional 227 shares during the period. Meyer Handelman Co. bought a new stake in Omnicom Group in the 4th quarter valued at $3,511,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in Omnicom Group by 0.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 384,787 shares of the business services provider's stock valued at $33,288,000 after purchasing an additional 3,600 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Omnicom Group by 19.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,460 shares of the business services provider's stock valued at $1,337,000 after purchasing an additional 2,565 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Up 1.7 %

Omnicom Group stock traded up $1.60 during midday trading on Thursday, hitting $96.76. 2,247,552 shares of the stock were exchanged, compared to its average volume of 1,663,383. The company has a fifty day simple moving average of $90.06 and a two-hundred day simple moving average of $83.30. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The stock has a market capitalization of $19.16 billion, a PE ratio of 13.98, a P/E/G ratio of 2.22 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post 7.73 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, March 8th. Omnicom Group's dividend payout ratio is currently 40.46%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OMC. Morgan Stanley upgraded shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $90.00 to $100.00 in a research note on Friday, December 15th. Macquarie upgraded shares of Omnicom Group from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $80.00 to $100.00 in a research report on Friday, January 5th. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $106.00 to $104.00 and set an "overweight" rating for the company in a research report on Wednesday, February 7th. UBS Group began coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They issued a "buy" rating and a $117.00 target price on the stock. Finally, BNP Paribas raised shares of Omnicom Group from a "neutral" rating to an "outperform" rating and set a $115.00 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.33.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the sale, the director now owns 9,753 shares in the company, valued at approximately $845,194.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

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.