Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMCFree Report) by 13.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 344,196 shares of the business services provider’s stock after selling 53,317 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Omnicom Group were worth $25,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Chase Investment Counsel Corp lifted its holdings in shares of Omnicom Group by 265.6% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,984 shares of the business services provider’s stock valued at $1,041,000 after buying an additional 10,159 shares during the period. Shayne & Jacobs LLC acquired a new position in Omnicom Group in the third quarter valued at approximately $2,458,000. Pathstone Family Office LLC boosted its position in Omnicom Group by 399.6% in the 3rd quarter. Pathstone Family Office LLC now owns 16,353 shares of the business services provider’s stock worth $1,229,000 after purchasing an additional 13,080 shares in the last quarter. KCM Investment Advisors LLC grew its stake in shares of Omnicom Group by 8.0% during the 3rd quarter. KCM Investment Advisors LLC now owns 18,693 shares of the business services provider’s stock worth $1,392,000 after purchasing an additional 1,380 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Omnicom Group by 65.3% during the 3rd quarter. Van ECK Associates Corp now owns 43,301 shares of the business services provider’s stock valued at $3,226,000 after purchasing an additional 17,103 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMC has been the topic of several analyst reports. Barclays raised their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Morgan Stanley upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $90.00 to $100.00 in a research report on Friday, December 15th. Citigroup reduced 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. JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. Finally, Macquarie raised Omnicom Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $100.00 in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $99.22.

Read Our Latest Report on OMC

Omnicom Group Stock Down 2.4 %

OMC stock opened at $84.59 on Monday. The stock has a market capitalization of $16.75 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.37 and a beta of 0.97. The firm has a 50-day simple moving average of $86.99 and a 200-day simple moving average of $80.99. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23.

Omnicom Group (NYSE:OMCGet Free Report) last released its earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4 billion. Omnicom Group had a net margin of 9.47% and a return on equity of 39.07%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.09 earnings per share. Equities analysts forecast that Omnicom Group Inc. will post 7.71 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

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

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

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