Cambridge Investment Research Advisors Inc. decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 82.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,937 shares of the business services provider’s stock after selling 43,259 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Omnicom Group were worth $652,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in OMC. American International Group Inc. grew its position in Omnicom Group by 1,169.5% in the fourth quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock worth $416,263,000 after buying an additional 5,235,862 shares during the last quarter. Vanguard Group Inc grew its position in Omnicom Group by 24.9% in the third quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock worth $1,443,122,000 after buying an additional 4,228,195 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Omnicom Group by 6,842.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock worth $54,000 after buying an additional 3,917,700 shares during the last quarter. Norges Bank acquired a new position in Omnicom Group in the fourth quarter worth approximately $158,391,000. Finally, BlackRock Inc. grew its position in Omnicom Group by 5.3% in the fourth quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock worth $1,163,417,000 after buying an additional 796,300 shares during the last quarter.
NYSE OMC opened at $79.21 on Wednesday. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $84.35. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.83 and a beta of 0.69.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, June 13th. Omnicom Group’s payout ratio is 45.22%.
In other news, CEO Jonathan B. Nelson sold 4,916 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $84.22, for a total transaction of $414,025.52. Following the transaction, the chief executive officer now directly owns 83,858 shares in the company, valued at approximately $7,062,520.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew Castellaneta sold 4,400 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total transaction of $353,056.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,354 shares of company stock worth $5,642,219. Corporate insiders own 1.10% of the company’s stock.
Several research firms have issued reports on OMC. BMO Capital Markets lifted their price target on shares of Omnicom Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $76.00 to $84.00 in a research report on Wednesday, April 17th. Citigroup lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Finally, Macquarie set a $76.00 price target on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.33.
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About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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