Levin Capital Strategies L.P. cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,178 shares of the business services provider’s stock after selling 1,795 shares during the period. Levin Capital Strategies L.P.’s holdings in Omnicom Group were worth $3,654,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss National Bank raised its position in Omnicom Group by 0.3% during the 3rd quarter. Swiss National Bank now owns 859,077 shares of the business services provider’s stock valued at $63,632,000 after purchasing an additional 2,200 shares in the last quarter. Cambridge Trust Co. bought a new position in shares of Omnicom Group in the 3rd quarter worth $319,000. Prudential Financial Inc. raised its position in shares of Omnicom Group by 47.5% in the 3rd quarter. Prudential Financial Inc. now owns 478,517 shares of the business services provider’s stock worth $35,444,000 after acquiring an additional 154,103 shares in the last quarter. Lingohr & Partner Asset Management GmbH bought a new position in shares of Omnicom Group in the 3rd quarter worth $940,000. Finally, 361 Capital LLC bought a new position in shares of Omnicom Group in the 3rd quarter worth $3,288,000. 98.62% of the stock is owned by institutional investors and hedge funds.
In related news, insider Peter K. Sherman sold 8,310 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $74.31, for a total transaction of $617,516.10. Following the transaction, the insider now directly owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
Several research firms have recently commented on OMC. TheStreet lowered Omnicom Group from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. Wells Fargo & Co reissued a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research report on Friday. Macquarie raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $77.00 price target for the company in a research report on Friday. BMO Capital Markets raised Omnicom Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Friday. They noted that the move was a valuation call. Finally, Royal Bank of Canada lowered Omnicom Group from an “outperform” rating to a “sector perform” rating and set a $83.00 price target for the company. in a research report on Friday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and an average target price of $83.07.
Omnicom Group Inc. (OMC) opened at $78.72 on Friday. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $86.71. The stock has a market capitalization of $17,795.08, a PE ratio of 16.97, a P/E/G ratio of 2.52 and a beta of 1.20. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, February 15th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.01. Omnicom Group had a return on equity of 41.86% 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 period in the prior year, the company posted $1.47 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. equities analysts predict that Omnicom Group Inc. will post 5.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Investors 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 3.05%. The ex-dividend date of this dividend is Thursday, March 8th. Omnicom Group’s dividend payout ratio is currently 51.72%.
Omnicom Group Profile
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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