AlphaCrest Capital Management LLC Decreases Holdings in Omnicom Group Inc. (NYSE:OMC)

AlphaCrest Capital Management LLC trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 78.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,955 shares of the business services provider’s stock after selling 17,579 shares during the period. AlphaCrest Capital Management LLC’s holdings in Omnicom Group were worth $313,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ronald Blue Trust Inc. bought a new position in Omnicom Group during the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC grew its position in Omnicom Group by 112.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 691 shares of the business services provider’s stock worth $44,000 after acquiring an additional 366 shares during the last quarter. Private Trust Co. NA bought a new position in Omnicom Group during the 2nd quarter worth approximately $44,000. Parkside Financial Bank & Trust grew its position in Omnicom Group by 30.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 908 shares of the business services provider’s stock worth $58,000 after acquiring an additional 214 shares during the last quarter. Finally, MBM Wealth Consultants LLC grew its position in Omnicom Group by 45.5% during the 3rd quarter. MBM Wealth Consultants LLC now owns 1,344 shares of the business services provider’s stock worth $85,000 after acquiring an additional 420 shares during the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of OMC stock opened at $87.46 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.97. Omnicom Group Inc. has a fifty-two week low of $61.31 and a fifty-two week high of $96.52. The firm has a market cap of $17.73 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.82 and a beta of 0.83. The business’s 50 day moving average price is $88.45 and its 200-day moving average price is $77.81.

Omnicom Group (NYSE:OMC – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.15. Omnicom Group had a return on equity of 41.20% and a net margin of 9.21%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.15 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 10th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. Omnicom Group’s dividend payout ratio is presently 43.96%.

Wall Street Analysts Forecast Growth

OMC has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Omnicom Group from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Morgan Stanley upgraded Omnicom Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $85.00 to $95.00 in a research report on Wednesday, February 8th. Wells Fargo & Company raised their price target on Omnicom Group from $84.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Finally, Barclays raised their price target on Omnicom Group from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $97.00.

About Omnicom Group

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Omnicom Group, Inc is a holding company, which engages in the provision of advertising, marketing and corporate communications services. Its agency networks operate in the advertising, marketing, and corporate communications services industry, which are organized into regions, which are the Americas, EMEA and Asia-Pacific.