RNC Capital Management LLC Has $530,000 Holdings in Omnicom Group Inc. (NYSE:OMC)

RNC Capital Management LLC lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 66.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,126 shares of the business services provider’s stock after selling 12,377 shares during the period. RNC Capital Management LLC’s holdings in Omnicom Group were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of OMC. OFI Invest Asset Management acquired a new position in shares of Omnicom Group in the 3rd quarter valued at about $25,000. KB Financial Partners LLC grew its stake in shares of Omnicom Group by 1,326.1% in the 2nd quarter. KB Financial Partners LLC now owns 328 shares of the business services provider’s stock valued at $31,000 after buying an additional 305 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of Omnicom Group by 1,805.9% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock valued at $31,000 after buying an additional 307 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in shares of Omnicom Group by 64.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock valued at $38,000 after buying an additional 199 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Omnicom Group in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $86.66, for a total value 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 legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. UBS Group assumed coverage on Omnicom Group in a report on Thursday, January 11th. They set a “buy” rating and a $117.00 price target for the company. Macquarie upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $100.00 in a research note on Friday, January 5th. Wells Fargo & Company increased their price objective on Omnicom Group from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $100.00 in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.22.

Omnicom Group Price Performance

Omnicom Group stock opened at $95.16 on Thursday. The business’s 50-day simple moving average is $89.91 and its 200 day simple moving average is $83.22. The stock has a market cap of $18.84 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.22 and a beta of 0.96. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the business earned $2.09 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.73 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio is currently 40.46%.

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.