Ballentine Partners LLC Reduces Position in Omnicom Group Inc. (NYSE:OMC)

Ballentine Partners LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 13.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,877 shares of the business services provider’s stock after selling 2,086 shares during the period. Ballentine Partners LLC’s holdings in Omnicom Group were worth $1,114,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Omnicom Group in the third quarter valued at $25,000. KB Financial Partners LLC boosted its holdings in 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 valued at $31,000 after acquiring an additional 305 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Omnicom Group by 1,805.9% during the first quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock worth $31,000 after purchasing an additional 307 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of Omnicom Group by 64.4% during the third quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock worth $38,000 after purchasing an additional 199 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Omnicom Group during the third quarter worth about $38,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OMC. BNP Paribas upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Wells Fargo & Company boosted their price objective on Omnicom Group from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, UBS Group assumed coverage on Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Insider Activity at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the transaction, the director now directly owns 9,753 shares of the company’s stock, valued at $845,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Down 1.8 %

Shares of Omnicom Group stock opened at $93.11 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market cap of $18.36 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.28 and a beta of 0.97. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The business has a 50-day moving average price of $90.80 and a 200 day moving average price of $83.92.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. Omnicom Group’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 earnings per share. On average, sell-side analysts forecast that Omnicom Group Inc. will post 7.73 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio is currently 40.46%.

About Omnicom Group

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.