Thrivent Financial for Lutherans lowered its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 9.5% in the fourth quarter, Holdings Channel reports. The fund owned 26,910 shares of the business services provider’s stock after selling 2,840 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Omnicom Group were worth $2,428,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Omnicom Group during the fourth quarter worth $79,321,000. State Street Corp boosted its position in Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after buying an additional 759,980 shares during the period. World Investment Advisors LLC grew its holdings in Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after acquiring an additional 374,952 shares during the last quarter. Arvest Bank Trust Division acquired a new position in Omnicom Group in the 3rd quarter valued at approximately $21,191,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock valued at $577,732,000 after acquiring an additional 156,438 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Barclays decreased their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.
Check Out Our Latest Report on OMC
Omnicom Group Stock Performance
Shares of OMC stock opened at $80.61 on Friday. The firm has a 50 day moving average of $83.34 and a 200-day moving average of $92.65. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 52 week low of $78.69 and a 52 week high of $107.00.
Omnicom Group (NYSE:OMC – Get Free Report) last issued its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter last year, the firm earned $2.20 EPS. On average, equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.
Omnicom Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s payout ratio is 37.58%.
Omnicom Group Company Profile
(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.
See Also
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