Glenmede Trust Co. NA lowered its holdings in shares of Omnicom Group (NYSE:OMC) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,283,129 shares of the business services provider’s stock after selling 232,572 shares during the quarter. Glenmede Trust Co. NA owned 0.56% of Omnicom Group worth $93,448,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $104,000. MUFG Americas Holdings Corp raised its position in Omnicom Group by 123.8% in the 4th quarter. MUFG Americas Holdings Corp now owns 1,531 shares of the business services provider’s stock valued at $112,000 after buying an additional 847 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $199,000. Dynamic Technology Lab Private Ltd acquired a new stake in Omnicom Group in the 3rd quarter valued at approximately $205,000. Finally, Oak Point Wealth Management acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $219,000. 98.62% of the stock is currently owned by institutional investors.
OMC has been the topic of several recent analyst reports. TheStreet raised Omnicom Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Tuesday, March 20th. Wells Fargo reiterated a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research note on Friday, February 16th. Pivotal Research reduced their target price on Omnicom Group from $76.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. Finally, ValuEngine downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $82.46.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $77.38, for a total value of $154,760.00. Following the transaction, the treasurer now owns 42,561 shares in the company, valued at $3,293,370.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Shares of NYSE OMC traded down $0.76 during trading on Friday, reaching $71.74. The company had a trading volume of 1,278,690 shares, compared to its average volume of 1,918,853. Omnicom Group has a 12 month low of $65.32 and a 12 month high of $86.71. The firm has a market capitalization of $16,694.40, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16. The company has a current ratio of 0.93, a quick ratio of 0.86 and a debt-to-equity ratio of 1.56.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. Omnicom Group had a return on equity of 40.67% and a net margin of 7.12%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $1.47 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. analysts forecast that Omnicom Group will post 5.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Friday, March 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.40 annualized dividend and a yield of 3.35%. Omnicom Group’s payout ratio is currently 47.06%.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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