Omnicom Group Inc. (NYSE:OMC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,862 shares of the business services provider’s stock after selling 316 shares during the period. Assenagon Asset Management S.A.’s holdings in Omnicom Group were worth $248,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Meyer Handelman Co. bought a new position in shares of Omnicom Group during the fourth quarter worth about $3,511,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Omnicom Group by 0.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 384,787 shares of the business services provider’s stock worth $33,288,000 after purchasing an additional 3,600 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Omnicom Group by 19.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,460 shares of the business services provider’s stock worth $1,337,000 after purchasing an additional 2,565 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Omnicom Group by 1.4% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 152,256 shares of the business services provider’s stock worth $13,172,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Omnicom Group by 3.3% during the fourth quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after purchasing an additional 13,709 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Omnicom Group from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. UBS Group initiated coverage on shares of Omnicom Group in a report on Thursday, January 11th. They issued a “buy” rating and a $117.00 target price on the stock. Morgan Stanley raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $100.00 in a report on Friday, December 15th. Finally, BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the sale, the director now owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

NYSE OMC opened at $93.08 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86. The firm has a market capitalization of $18.36 billion, a PE ratio of 13.45, a P/E/G ratio of 2.22 and a beta of 0.97. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company’s 50 day simple moving average is $90.91 and its 200 day simple moving average is $84.33.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. Omnicom Group had a net margin of 9.47% and a return on equity of 39.07%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Omnicom Group Inc. will post 7.73 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) 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.