Omnicom Group Inc. (NYSE:OMC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,687,553 shares of the business services provider’s stock after selling 61,620 shares during the quarter. Principal Financial Group Inc.’s holdings in Omnicom Group were worth $174,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new position in shares of Omnicom Group in the 3rd quarter valued at approximately $33,000. Davis Capital Management acquired a new stake in Omnicom Group in the third quarter valued at $36,000. Innealta Capital LLC acquired a new stake in Omnicom Group in the second quarter valued at $33,000. HM Payson & Co. raised its holdings in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Omnicom Group during the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on OMC. UBS Group increased their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Omnicom Group Trading Up 0.2 %

Shares of NYSE OMC opened at $87.89 on Friday. Omnicom Group Inc. has a 12-month low of $84.43 and a 12-month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $100.56 and its 200 day simple moving average is $97.12. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is 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.