Price T Rowe Associates Inc. MD Reduces Position in Omnicom Group Inc. (NYSE:OMC)

Price T Rowe Associates Inc. MD decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 798,075 shares of the business services provider’s stock after selling 159,201 shares during the period. Price T Rowe Associates Inc. MD owned 0.41% of Omnicom Group worth $77,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Beutel Goodman & Co Ltd. increased its holdings in shares of Omnicom Group by 1.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock valued at $363,148,000 after acquiring an additional 42,075 shares during the period. Lazard Asset Management LLC increased its stake in Omnicom Group by 6.3% in the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after purchasing an additional 165,136 shares during the period. First Trust Advisors LP raised its holdings in shares of Omnicom Group by 7.7% in the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after buying an additional 186,562 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Omnicom Group by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock worth $205,051,000 after buying an additional 43,861 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Omnicom Group by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,879 shares of the business services provider’s stock worth $160,557,000 after buying an additional 78,215 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Moffett Nathanson increased their price target on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Macquarie reissued an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.70.

Omnicom Group Stock Up 0.1 %

OMC stock opened at $95.48 on Tuesday. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $98.06. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.68 billion, a P/E ratio of 12.90, a P/E/G ratio of 2.25 and a beta of 0.95. The company’s 50-day moving average price is $91.37 and its 200 day moving average price is $91.61.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company earned $1.81 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

About Omnicom Group

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.