Sumitomo Life Insurance Co. Sells 235 Shares of Omnicom Group Inc. (NYSE:OMC)

Sumitomo Life Insurance Co. decreased its position in Omnicom Group Inc. (NYSE:OMC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,106 shares of the business services provider’s stock after selling 235 shares during the period. Sumitomo Life Insurance Co.’s holdings in Omnicom Group were worth $788,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aviva PLC boosted its stake in Omnicom Group by 406.1% in the 3rd quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock worth $9,407,000 after purchasing an additional 101,348 shares in the last quarter. NBC Securities Inc. bought a new position in Omnicom Group in the 3rd quarter worth about $200,000. Raymond James & Associates boosted its stake in Omnicom Group by 3.3% in the 4th 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 in the last quarter. Arvest Investments Inc. bought a new position in Omnicom Group in the 4th quarter worth about $1,969,000. Finally, Sequoia Financial Advisors LLC boosted its stake in Omnicom Group by 1,627.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after purchasing an additional 62,640 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of several research analyst reports. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, March 28th. Barclays upped their target price on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Macquarie upped their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Activity

In other news, Director Linda Johnson Rice sold 507 shares of the 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 in the company, valued at approximately $845,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $90.55 on Tuesday. The firm’s 50 day moving average price is $91.09 and its 200-day moving average price is $84.97. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $99.23. 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 stock has a market capitalization of $17.86 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its 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. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a net margin of 9.47% and a return on equity of 39.07%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. Equities research analysts expect that Omnicom Group Inc. will post 7.73 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is currently 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.