Dimensional Fund Advisors LP Sells 273,822 Shares of Omnicom Group Inc. $OMC

Dimensional Fund Advisors LP lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,587,261 shares of the business services provider’s stock after selling 273,822 shares during the quarter. Dimensional Fund Advisors LP owned about 1.34% of Omnicom Group worth $210,889,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OMC. Cornerstone Planning Group LLC increased its position in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 319 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after acquiring an additional 318 shares in the last quarter. Westside Investment Management Inc. grew its stake in Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 202 shares during the period. Finally, Quent Capital LLC acquired a new stake in Omnicom Group in the third quarter valued at approximately $39,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Morgan Stanley started coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Bank of America restated an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $95.00.

Omnicom Group Stock Up 0.2%

Shares of NYSE:OMC opened at $84.90 on Friday. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 173.27, a PEG ratio of 0.81 and a beta of 0.71. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.27. The business’s 50 day moving average is $77.83 and its 200 day moving average is $77.05.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing analysts’ consensus estimates 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%. During the same period in the previous year, the business earned $2.41 earnings per share. The company’s quarterly revenue was up 27.9% on a year-over-year basis. On average, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its board has authorized a stock repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.8%. Omnicom Group’s dividend payout ratio is presently 653.06%.

Omnicom Group Company 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.