Robeco Institutional Asset Management B.V. Decreases Stake in Omnicom Group Inc. (NYSE:OMC)

Posted by AM Reporter Staff on Mar 18th, 2023

Robeco Institutional Asset Management B.V. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 74.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 281,827 shares of the business services provider’s stock after selling 815,521 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Omnicom Group worth $17,781,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in OMC. Ronald Blue Trust Inc. purchased a new stake in shares of Omnicom Group during the 2nd quarter worth $27,000. Hexagon Capital Partners LLC boosted its position in shares of Omnicom Group by 112.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 691 shares of the business services provider’s stock worth $44,000 after purchasing an additional 366 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Omnicom Group in the 2nd quarter worth about $44,000. Parkside Financial Bank & Trust boosted its position in shares of Omnicom Group by 30.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 908 shares of the business services provider’s stock worth $58,000 after buying an additional 214 shares in the last quarter. Finally, MBM Wealth Consultants LLC boosted its position in shares of Omnicom Group by 45.5% in the 3rd quarter. MBM Wealth Consultants LLC now owns 1,344 shares of the business services provider’s stock worth $85,000 after buying an additional 420 shares in the last quarter. 90.20% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.3 %

Shares of OMC stock opened at $86.17 on Friday. The firm has a 50-day moving average price of $88.70 and a 200 day moving average price of $78.35. Omnicom Group Inc. has a twelve month low of $61.31 and a twelve month high of $96.52. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.80 and a beta of 0.83. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48.

Omnicom Group (NYSE:OMC – Get Rating) last announced its earnings results on Tuesday, February 7th. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.15. Omnicom Group had a net margin of 9.21% and a return on equity of 41.20%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts forecast that Omnicom Group Inc. will post 7.15 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 10th 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 3.25%. The ex-dividend date of this dividend is Thursday, March 9th. Omnicom Group’s dividend payout ratio is currently 43.96%.

Analysts Set New Price Targets

Several research firms recently commented on OMC. Barclays boosted their price objective on shares of Omnicom Group from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $84.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. StockNews.com began coverage on shares of Omnicom Group in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Morgan Stanley upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $85.00 to $95.00 in a research report on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.00.

About Omnicom Group

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Omnicom Group, Inc is a holding company, which engages in the provision of advertising, marketing and corporate communications services. Its agency networks operate in the advertising, marketing, and corporate communications services industry, which are organized into regions, which are the Americas, EMEA and Asia-Pacific.