Macquarie Group Ltd. trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,587 shares of the business services provider’s stock after selling 2,965 shares during the quarter. Macquarie Group Ltd.’s holdings in Omnicom Group were worth $1,728,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in OMC. First Trust Advisors LP raised its position in shares of Omnicom Group by 683.2% during the 1st quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock valued at $251,016,000 after buying an additional 2,579,717 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Omnicom Group by 372.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,218,693 shares of the business services provider’s stock worth $66,038,000 after buying an additional 2,537,136 shares during the period. American Century Companies Inc. grew its stake in Omnicom Group by 3,737.8% in the fourth quarter. American Century Companies Inc. now owns 1,975,361 shares of the business services provider’s stock worth $161,130,000 after purchasing an additional 1,923,890 shares in the last quarter. Baird Financial Group Inc. grew its stake in Omnicom Group by 40.4% in the fourth quarter. Baird Financial Group Inc. now owns 2,851,104 shares of the business services provider’s stock worth $232,565,000 after purchasing an additional 820,275 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Omnicom Group by 81.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock worth $144,111,000 after purchasing an additional 683,810 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.
Omnicom Group Trading Down 0.9 %
Shares of Omnicom Group stock opened at $76.73 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm’s 50 day simple moving average is $82.33 and its two-hundred day simple moving average is $88.65. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 2.16 and a beta of 0.85. Omnicom Group Inc. has a 12-month low of $61.85 and a 12-month high of $99.23.
Omnicom Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Thursday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Wednesday, September 20th. Omnicom Group’s dividend payout ratio is currently 41.24%.
Insider Transactions at Omnicom Group
In other news, Director Linda Johnson Rice sold 467 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.24, for a total value of $37,472.08. Following the sale, the director now owns 9,591 shares in the company, valued at $769,581.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on OMC. Bank of America upped their price objective on shares of Omnicom Group from $79.00 to $84.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 19th. Citigroup reiterated a “buy” rating and issued a $113.00 target price on shares of Omnicom Group in a research note on Tuesday. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 target price on shares of Omnicom Group in a research note on Wednesday, July 19th. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $109.00 to $88.00 in a research note on Monday, July 24th. Finally, StockNews.com assumed coverage on shares of Omnicom Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.63.
Get Our Latest Stock Analysis on Omnicom Group
Omnicom Group Company 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 brand consulting, experiential, execution and support, public relations, and healthcare.
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