Victory Capital Management Inc. Decreases Position in Omnicom Group Inc. (NYSE:OMC)

Victory Capital Management Inc. decreased its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 487,621 shares of the business services provider's stock after selling 176,641 shares during the quarter. Victory Capital Management Inc. owned approximately 0.25% of Omnicom Group worth $42,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Omnicom Group by 1.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 87,056 shares of the business services provider's stock worth $6,484,000 after buying an additional 1,258 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Omnicom Group by 11.0% during the 3rd quarter. Forsta AP Fonden now owns 53,600 shares of the business services provider's stock worth $3,992,000 after purchasing an additional 5,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Omnicom Group by 176.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,409 shares of the business services provider's stock worth $6,883,000 after acquiring an additional 58,958 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in Omnicom Group by 6.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 5,631 shares of the business services provider's stock valued at $419,000 after acquiring an additional 365 shares during the period. Finally, AMF Tjanstepension AB increased its holdings in shares of Omnicom Group by 84.5% during the third quarter. AMF Tjanstepension AB now owns 35,232 shares of the business services provider's stock valued at $2,624,000 after acquiring an additional 16,132 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the sale, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OMC. Wells Fargo & Company raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. Barclays increased their price objective on shares of Omnicom Group from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Moffett Nathanson boosted their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a "neutral" rating in a report on Wednesday, April 17th. StockNews.com upgraded Omnicom Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 18th. Finally, Macquarie lifted their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and a consensus target price of $103.40.

Omnicom Group Stock Performance

Shares of NYSE OMC traded up $0.44 during trading on Monday, hitting $93.19. The company had a trading volume of 1,387,192 shares, compared to its average volume of 1,648,076. The stock has a 50 day simple moving average of $93.01 and a 200 day simple moving average of $86.99. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market capitalization of $18.25 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The firm had revenue of $4.06 billion for the quarter, compared to analysts' expectations of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The business's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 7.81 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 8th. Omnicom Group's dividend payout ratio is currently 37.84%.

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.