Meritage Portfolio Management Sells 1,927 Shares of Omnicom Group Inc. (NYSE:OMC)

Meritage Portfolio Management lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,675 shares of the business services provider’s stock after selling 1,927 shares during the quarter. Meritage Portfolio Management’s holdings in Omnicom Group were worth $2,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ST Germain D J Co. Inc. bought a new stake in Omnicom Group during the fourth quarter valued at about $25,000. Versant Capital Management Inc raised its stake in shares of Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after acquiring an additional 271 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Omnicom Group during the third quarter valued at approximately $33,000. HM Payson & Co. grew its holdings in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Omnicom Group by 742.4% during the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock worth $48,000 after purchasing an additional 490 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 2.2 %

Omnicom Group stock opened at $85.00 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a market cap of $16.70 billion, a PE ratio of 11.61, a P/E/G ratio of 1.89 and a beta of 0.97. The stock’s 50 day simple moving average is $89.67 and its two-hundred day simple moving average is $96.17. Omnicom Group Inc. has a 12 month low of $81.42 and a 12 month high of $107.00.

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 the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Analysts anticipate that Omnicom Group Inc. will post 7.99 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio is presently 38.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Barclays cut their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Macquarie reiterated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

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.