Omnicom Group Inc. (NYSE:OMC) Shares Bought by Convergence Financial LLC

Convergence Financial LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,694 shares of the business services provider’s stock after purchasing an additional 165 shares during the period. Convergence Financial LLC’s holdings in Omnicom Group were worth $232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OMC. State Street Corp increased its position in Omnicom Group by 5.7% during the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after buying an additional 759,980 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Omnicom Group by 2.4% in 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 acquiring an additional 156,438 shares during the period. Geode Capital Management LLC increased its holdings in shares of Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after acquiring an additional 72,447 shares during the period. Barclays PLC increased its holdings in shares of Omnicom Group by 1.7% in the 3rd quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after acquiring an additional 13,637 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Omnicom Group by 23.6% in the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock valued at $72,465,000 after acquiring an additional 134,927 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of 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. Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Barclays dropped their price target 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. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Trading Down 2.4 %

Shares of OMC stock opened at $81.75 on Friday. The business’s fifty day moving average price is $84.99 and its 200 day moving average price is $94.91. Omnicom Group Inc. has a 1-year low of $80.31 and a 1-year high of $107.00. The firm has a market capitalization of $16.06 billion, a PE ratio of 10.97, a P/E/G ratio of 1.94 and a beta of 0.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share 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 previous year, the firm posted $2.20 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 annualized dividend and a yield of 3.43%. Omnicom Group’s payout ratio is currently 37.58%.

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.