Thrivent Financial for Lutherans Sells 2,840 Shares of Omnicom Group Inc. (NYSE:OMC)

Thrivent Financial for Lutherans lessened its position in Omnicom Group Inc. (NYSE:OMC) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,910 shares of the business services provider’s stock after selling 2,840 shares during the period. Thrivent Financial for Lutherans’ holdings in Omnicom Group were worth $2,428,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Omnicom Group during the fourth quarter worth about $79,321,000. State Street Corp boosted its stake in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after acquiring an additional 759,980 shares during the period. World Investment Advisors LLC increased its holdings in shares of Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after acquiring an additional 374,952 shares during the last quarter. Arvest Bank Trust Division bought a new stake in Omnicom Group in the 3rd quarter valued at $21,191,000. Finally, Bank of New York Mellon Corp lifted its holdings in Omnicom Group by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock valued at $577,732,000 after purchasing an additional 156,438 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

OMC opened at $80.61 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. Omnicom Group Inc. has a 52-week low of $78.69 and a 52-week high of $107.00. The firm has a market cap of $15.84 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98. The business’s fifty day moving average is $83.34 and its 200-day moving average is $92.65.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the prior year, the business earned $2.20 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Omnicom Group’s dividend payout ratio (DPR) is 37.58%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company lowered their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays reduced their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.