Carnegie Capital Asset Management LLC Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

Carnegie Capital Asset Management LLC lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,854 shares of the business services provider’s stock after selling 1,011 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Omnicom Group were worth $1,631,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OMC. Louisiana State Employees Retirement System purchased a new position in Omnicom Group during the 4th quarter worth $1,038,000. Graypoint LLC lifted its position in Omnicom Group by 45.0% in the fourth quarter. Graypoint LLC now owns 4,060 shares of the business services provider’s stock valued at $351,000 after purchasing an additional 1,260 shares during the period. Koshinski Asset Management Inc. boosted its holdings in Omnicom Group by 7.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 5,139 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 340 shares in the last quarter. Vaughan David Investments LLC IL increased its position in Omnicom Group by 1.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 430,839 shares of the business services provider’s stock worth $37,272,000 after purchasing an additional 5,795 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Omnicom Group by 13.9% during the 4th quarter. Cerity Partners LLC now owns 11,421 shares of the business services provider’s stock worth $988,000 after buying an additional 1,397 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OMC has been the subject of several research analyst reports. Barclays increased their price objective on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Omnicom Group from $106.00 to $104.00 and set an “overweight” rating for the company in a research note 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 for the company. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Finally, Macquarie upped their price target on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $102.44.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the company’s 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 directly owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Omnicom Group Stock Down 0.0 %

Shares of NYSE:OMC opened at $90.55 on Tuesday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The stock’s fifty day simple moving average is $91.09 and its 200-day simple moving average is $84.97. The company has a market capitalization of $17.86 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.17 and a beta of 0.97. 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 (NYSE:OMC) last issued its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company posted $2.09 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Omnicom Group Inc. will post 7.73 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 3.09%. Omnicom Group’s payout ratio is 40.46%.

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.