New York Life Investment Management LLC Reduces Stake in Omnicom Group Inc. (NYSE:OMC)

New York Life Investment Management LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,026 shares of the business services provider’s stock after selling 777 shares during the quarter. New York Life Investment Management LLC’s holdings in Omnicom Group were worth $2,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Omnicom Group by 56.0% during the 4th quarter. Van ECK Associates Corp now owns 67,551 shares of the business services provider’s stock worth $5,844,000 after buying an additional 24,250 shares during the last quarter. Chase Investment Counsel Corp lifted its position in Omnicom Group by 7.2% in the fourth quarter. Chase Investment Counsel Corp now owns 14,984 shares of the business services provider’s stock valued at $1,296,000 after acquiring an additional 1,000 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Omnicom Group in the fourth quarter valued at $26,000. Unique Wealth Strategies LLC purchased a new position in shares of Omnicom Group during the fourth quarter worth about $540,000. Finally, Alexander Randolph Advisory Inc. acquired a new stake in shares of Omnicom Group during the fourth quarter worth about $2,361,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the sale, the director now owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Stock Performance

NYSE OMC opened at $92.75 on Monday. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.18 and a beta of 0.96. The business’s 50 day moving average is $92.93 and its two-hundred day moving average is $86.86. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33.

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

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays raised their price target on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Macquarie increased their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. UBS Group assumed coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They issued a “buy” rating and a $117.00 price objective on the stock. Finally, Moffett Nathanson increased their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus target price of $103.40.

Omnicom Group 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.