Axa lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 35.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,911 shares of the business services provider’s stock after selling 72,000 shares during the period. Axa owned approximately 0.06% of Omnicom Group worth $9,752,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Omnicom Group in the 4th quarter valued at $1,755,000. Geode Capital Management LLC raised its holdings in shares of Omnicom Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,638,594 shares of the business services provider’s stock valued at $191,795,000 after purchasing an additional 43,425 shares in the last quarter. Yorktown Management & Research Co Inc raised its holdings in shares of Omnicom Group by 206.5% in the 4th quarter. Yorktown Management & Research Co Inc now owns 9,500 shares of the business services provider’s stock valued at $692,000 after purchasing an additional 6,400 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Omnicom Group by 9.6% in the 4th quarter. Amalgamated Bank now owns 30,515 shares of the business services provider’s stock valued at $2,222,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Omnicom Group by 11.9% in the 4th quarter. Mackenzie Financial Corp now owns 4,937,280 shares of the business services provider’s stock valued at $359,582,000 after purchasing an additional 525,157 shares in the last quarter. 98.62% of the stock is owned by institutional investors.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $77.38, for a total transaction of $154,760.00. Following the transaction, the treasurer now directly owns 42,561 shares of the company’s stock, valued at approximately $3,293,370.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.01. Omnicom Group had a net margin of 7.12% and a return on equity of 40.67%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $1.47 EPS. Omnicom Group’s revenue for the quarter was down 1.5% compared to the same quarter last year. analysts predict that Omnicom Group Inc. will post 5.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Friday, March 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, March 8th. Omnicom Group’s payout ratio is currently 46.97%.
A number of equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Omnicom Group from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Macquarie upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $77.00 price objective on the stock in a report on Friday, February 16th. Barclays restated a “hold” rating and issued a $81.00 price objective on shares of Omnicom Group in a report on Thursday, January 25th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $80.00 price target on shares of Omnicom Group in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $82.77.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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