Kovitz Investment Group Partners LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,559 shares of the business services provider's stock after selling 28,948 shares during the period. Kovitz Investment Group Partners LLC's holdings in Omnicom Group were worth $1,253,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of OMC. Voya Investment Management LLC raised its position in shares of Omnicom Group by 54.5% during the 4th quarter. Voya Investment Management LLC now owns 98,696 shares of the business services provider's stock worth $8,492,000 after acquiring an additional 34,822 shares in the last quarter. MGO One Seven LLC raised its holdings in Omnicom Group by 3.2% during the fourth quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock worth $437,000 after purchasing an additional 157 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Omnicom Group by 39.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,052,379 shares of the business services provider's stock worth $90,737,000 after buying an additional 295,223 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Omnicom Group by 3.7% in the 4th quarter. Stifel Financial Corp now owns 75,151 shares of the business services provider's stock valued at $6,466,000 after buying an additional 2,716 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in Omnicom Group by 9.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 19,294 shares of the business services provider's stock worth $1,660,000 after acquiring an additional 1,709 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.
Omnicom Group Price Performance
OMC stock traded up $1.29 on Friday, reaching $77.04. 2,636,986 shares of the company's stock were exchanged, compared to its average volume of 2,217,330. Omnicom Group Inc. has a twelve month low of $69.13 and a twelve month high of $107.00. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The stock has a fifty day moving average of $78.02 and a 200-day moving average of $87.60. The firm has a market cap of $15.03 billion, a PE ratio of 10.34, a P/E/G ratio of 1.94 and a beta of 0.87.
Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data 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. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. As a group, equities analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. Omnicom Group's payout ratio is 38.30%.
Analyst Upgrades and Downgrades
OMC has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Citigroup reaffirmed a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Argus downgraded shares of Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Barclays reduced their price objective on Omnicom Group from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.29.
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About Omnicom Group
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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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