Oppenheimer Asset Management Inc. Sells 9,552 Shares of Omnicom Group Inc. $OMC

Oppenheimer Asset Management Inc. trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,758 shares of the business services provider’s stock after selling 9,552 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Omnicom Group were worth $7,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of OMC. Activest Wealth Management raised its holdings in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Omnicom Group in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC raised its holdings in shares of Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares during the period. Meeder Asset Management Inc. raised its holdings in Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Finally, Westside Investment Management Inc. raised its holdings in Omnicom Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 202 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $77.02 on Friday. The company’s 50 day moving average price is $78.37 and its two-hundred day moving average price is $76.81. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The firm has a market cap of $21.95 billion, a PE ratio of 197.49, a PEG ratio of 0.59 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was up 69.2% compared to the same quarter last year. Equities research analysts predict that Omnicom Group Inc. will post 10.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, March 11th. Omnicom Group’s dividend payout ratio is presently 820.51%.

Omnicom Group declared that its Board of Directors has initiated a share buyback program on Wednesday, February 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 38.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on OMC. Citigroup lowered their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday. Finally, UBS Group increased their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.71.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.