Envestnet Portfolio Solutions Inc. cut its position in Omnicom Group Inc. (NYSE:OMC – Free Report) by 9.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,560 shares of the business services provider’s stock after selling 1,296 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Omnicom Group were worth $1,041,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Omnicom Group by 50.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock worth $513,922,000 after acquiring an additional 1,992,695 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Omnicom Group in the 4th quarter valued at $150,819,000. FMR LLC boosted its stake in Omnicom Group by 250.1% in the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock worth $172,987,000 after purchasing an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Omnicom Group by 91.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock worth $184,730,000 after purchasing an additional 1,027,567 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Omnicom Group during the fourth quarter worth $79,321,000. 91.97% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on OMC. Wells Fargo & Company cut their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. UBS Group reduced their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Barclays lowered their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Monday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $100.00.
Omnicom Group Stock Up 1.1%
Shares of NYSE OMC opened at $72.47 on Wednesday. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm’s 50-day moving average is $73.63 and its 200-day moving average is $79.94. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $14.14 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93.
Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.
Omnicom Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 38.30%.
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.
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