Sound Income Strategies LLC Lowers Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Sound Income Strategies LLC lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 226,084 shares of the business services provider’s stock after selling 9,695 shares during the period. Omnicom Group accounts for approximately 1.2% of Sound Income Strategies LLC’s holdings, making the stock its 25th biggest position. Sound Income Strategies LLC’s holdings in Omnicom Group were worth $19,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake in shares of Omnicom Group by 5.7% in 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 acquiring an additional 759,980 shares during the period. World Investment Advisors LLC boosted its stake in Omnicom Group by 4,413.3% in the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after purchasing an additional 374,952 shares during the period. Millennium Management LLC grew its holdings in Omnicom Group by 73.0% during the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after buying an additional 324,196 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Omnicom Group by 389,021.8% during the third quarter. International Assets Investment Management LLC now owns 214,017 shares of the business services provider’s stock valued at $22,127,000 after buying an additional 213,962 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new position in shares of Omnicom Group during the third quarter worth $21,191,000. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on OMC shares. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. UBS Group upped their price objective on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company decreased their price target 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. Finally, Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Omnicom Group Stock Up 0.1 %

Shares of NYSE:OMC opened at $86.21 on Friday. The firm has a market capitalization of $16.82 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The business has a 50 day simple moving average of $92.23 and a two-hundred day simple moving average of $96.46. Omnicom Group Inc. has a 1 year low of $81.42 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 38.25%.

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.