Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stake in Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,136 shares of the business services provider’s stock after selling 235 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Omnicom Group were worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in OMC. Lazard Asset Management LLC grew its holdings in Omnicom Group by 98.3% during the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock valued at $225,842,000 after buying an additional 1,503,249 shares in the last quarter. Boston Partners grew its holdings in shares of Omnicom Group by 21.7% in the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after purchasing an additional 664,800 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Omnicom Group by 8.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock valued at $353,437,000 after purchasing an additional 374,874 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Omnicom Group by 13.2% in the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock valued at $192,976,000 after purchasing an additional 301,927 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Omnicom Group in the fourth quarter valued at $21,936,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.5 %

NYSE OMC opened at $94.22 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average of $91.84 and a two-hundred day moving average of $85.78. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.17 and a beta of 0.97. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. Omnicom Group’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 earnings per share. On average, analysts predict that Omnicom Group Inc. will post 7.81 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be given a $0.70 dividend. The ex-dividend date is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 2.97%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Macquarie raised their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Moffett Nathanson raised their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, UBS Group assumed coverage on shares of Omnicom Group in a report on Thursday, January 11th. They issued a “buy” rating and a $117.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.40.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now directly owns 9,753 shares in the company, valued at approximately $845,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

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 branding, experiential, execution and support, public relations, and healthcare.