LGT Group Foundation Sells 2,243 Shares of Omnicom Group Inc. (NYSE:OMC)

LGT Group Foundation cut its stake in Omnicom Group Inc. (NYSE:OMC) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,748 shares of the business services provider’s stock after selling 2,243 shares during the quarter. LGT Group Foundation’s holdings in Omnicom Group were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. World Investment Advisors LLC increased its stake in shares of Omnicom Group by 209.7% in the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock valued at $2,720,000 after acquiring an additional 17,815 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Omnicom Group in the 3rd quarter valued at about $713,000. Thrivent Financial for Lutherans increased its stake in shares of Omnicom Group by 40.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock valued at $3,077,000 after acquiring an additional 8,643 shares during the last quarter. Assetmark Inc. increased its stake in shares of Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock valued at $50,562,000 after acquiring an additional 9,774 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Omnicom Group by 19.7% in the 3rd quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock valued at $23,860,000 after purchasing an additional 38,022 shares during the period. 91.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

OMC has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Barclays decreased their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company decreased their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Trading Down 2.5 %

NYSE:OMC opened at $80.73 on Tuesday. Omnicom Group Inc. has a twelve month low of $80.08 and a twelve month high of $107.00. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average price of $84.74 and a two-hundred day moving average price of $94.73. The company has a market cap of $15.86 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter in the prior year, the company posted $2.20 earnings per share. As a group, analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is currently 37.58%.

Omnicom Group 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.