Omnicom Group Inc. $OMC Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 25.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,490 shares of the business services provider’s stock after selling 70,131 shares during the quarter. Citigroup Inc.’s holdings in Omnicom Group were worth $17,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Omnicom Group by 1.5% during the second quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock worth $1,712,993,000 after purchasing an additional 344,652 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after buying an additional 1,893,316 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Omnicom Group by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock worth $566,152,000 after buying an additional 691,560 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Omnicom Group by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after buying an additional 2,820,553 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Omnicom Group by 0.9% in the second quarter. Geode Capital Management LLC now owns 5,339,385 shares of the business services provider’s stock valued at $382,717,000 after acquiring an additional 48,868 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE OMC opened at $85.19 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.80. The company has a market cap of $26.44 billion, a P/E ratio of 173.85, a P/E/G ratio of 1.26 and a beta of 0.74. The stock has a 50-day moving average of $77.29 and a two-hundred day moving average of $76.73. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.27.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the business posted $2.41 EPS. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. As a group, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.8%. Omnicom Group’s dividend payout ratio is currently 653.06%.

Omnicom Group announced that its board has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

OMC has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. UBS Group increased their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Morgan Stanley assumed coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Barclays upped their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, Citigroup lifted their price target on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.