New York State Common Retirement Fund decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,558 shares of the business services provider’s stock after selling 16,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.20% of Omnicom Group worth $35,370,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC raised its stake in Omnicom Group by 4.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,245 shares of the business services provider’s stock worth $263,000 after acquiring an additional 134 shares during the period. World Asset Management Inc increased its stake in shares of Omnicom Group by 0.9% in the third quarter. World Asset Management Inc now owns 16,404 shares of the business services provider’s stock valued at $1,284,000 after purchasing an additional 142 shares during the period. Sigma Planning Corp increased its stake in shares of Omnicom Group by 2.4% in the fourth quarter. Sigma Planning Corp now owns 6,574 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 153 shares during the period. Albert D Mason Inc. increased its stake in shares of Omnicom Group by 0.5% in the third quarter. Albert D Mason Inc. now owns 33,899 shares of the business services provider’s stock valued at $2,654,000 after purchasing an additional 155 shares during the period. Finally, OLD National Bancorp IN increased its stake in shares of Omnicom Group by 3.4% in the third quarter. OLD National Bancorp IN now owns 4,809 shares of the business services provider’s stock valued at $377,000 after purchasing an additional 157 shares during the period.
Several equities research analysts have commented on OMC shares. Cfra lowered shares of Omnicom Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $85.00 to $80.00 in a research note on Wednesday. ValuEngine lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $83.17.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 11th. The business services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Omnicom Group had a net margin of 8.88% and a return on equity of 44.02%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the business earned $1.77 earnings per share. Omnicom Group’s revenue was up 1.3% compared to the same quarter last year. Analysts predict that Omnicom Group Inc. will post 6.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Tuesday, March 10th will be paid a $0.65 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.60 annualized dividend and a dividend yield of 3.33%. Omnicom Group’s payout ratio is currently 45.22%.
Omnicom Group Company Profile
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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