Bank of Montreal Can Lowers Stake in Omnicom Group Inc. (NYSE:OMC)

Bank of Montreal Can reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 660,287 shares of the business services provider’s stock after selling 45,519 shares during the period. Bank of Montreal Can’s holdings in Omnicom Group were worth $56,811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Center For Asset Management LLC grew its position in Omnicom Group by 3.3% during the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock worth $389,000 after purchasing an additional 146 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Omnicom Group by 13.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Omnicom Group by 6.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,523 shares of the business services provider’s stock worth $217,000 after purchasing an additional 161 shares during the last quarter. Convergence Financial LLC grew its position in Omnicom Group by 6.5% during the 4th quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider’s stock worth $232,000 after purchasing an additional 165 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its position in Omnicom Group by 2.9% during the 4th quarter. Impact Partnership Wealth LLC now owns 6,493 shares of the business services provider’s stock worth $559,000 after purchasing an additional 182 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their target price 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. UBS Group lowered their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Barclays lowered their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.43.

Omnicom Group Stock Up 8.8 %

Shares of NYSE OMC opened at $76.57 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 52 week low of $69.13 and a 52 week high of $107.00. The firm has a 50-day moving average price of $81.01 and a 200 day moving average price of $90.74. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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 business posted $2.20 earnings per share. Equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.58%.

About Omnicom Group

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.