Artisan Partners Limited Partnership Sells 74,292 Shares of Omnicom Group Inc. (NYSE:OMC)

Artisan Partners Limited Partnership lowered its holdings in Omnicom Group Inc. (NYSE:OMCFree Report) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 585,376 shares of the business services provider’s stock after selling 74,292 shares during the period. Artisan Partners Limited Partnership’s holdings in Omnicom Group were worth $43,599,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Omnicom Group in the third quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Omnicom Group by 141.3% in the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the business services provider’s stock worth $29,000 after acquiring an additional 178 shares during the period. KB Financial Partners LLC grew its holdings in shares of Omnicom Group by 1,326.1% in the second quarter. KB Financial Partners LLC now owns 328 shares of the business services provider’s stock worth $31,000 after acquiring an additional 305 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in shares of Omnicom Group by 1,805.9% in the first quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock worth $31,000 after acquiring an additional 307 shares during the period. Finally, Oakworth Capital Inc. grew its holdings in shares of Omnicom Group by 102.4% in the second quarter. Oakworth Capital Inc. now owns 338 shares of the business services provider’s stock worth $32,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of several research analyst reports. Morgan Stanley raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $100.00 in a report on Friday, December 15th. Macquarie raised Omnicom Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $100.00 in a report on Friday, January 5th. UBS Group began 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. Citigroup cut their price target on Omnicom Group from $113.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Finally, Wells Fargo & Company boosted their price target on Omnicom Group from $85.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and an average price target of $99.22.

Check Out Our Latest Analysis on OMC

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $84.59 on Friday. The stock’s 50-day simple moving average is $86.99 and its 200-day simple moving average is $81.01. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.43 and a beta of 0.97. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.16.

Omnicom Group (NYSE:OMCGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 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 the consensus estimate of $4 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that Omnicom Group Inc. will post 7.71 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 22nd were given a $0.70 dividend. The ex-dividend date was Thursday, December 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. Omnicom Group’s payout ratio is 40.46%.

Omnicom Group Company Profile

(Free Report)

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 brand consulting, experiential, execution and support, public relations, and healthcare.

Further Reading

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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