OLD National Bancorp IN Cuts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

OLD National Bancorp IN reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,610 shares of the business services provider’s stock after selling 219 shares during the period. OLD National Bancorp IN’s holdings in Omnicom Group were worth $1,004,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Omnicom Group by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock worth $353,437,000 after buying an additional 374,874 shares in the last quarter. Boston Partners grew its position in shares of Omnicom Group by 21.7% in the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after purchasing an additional 664,800 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Omnicom Group by 98.3% in the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock valued at $225,842,000 after purchasing an additional 1,503,249 shares in the last quarter. Northern Trust Corp grew its position in shares of Omnicom Group by 13.2% in the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock valued at $192,976,000 after purchasing an additional 301,927 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Omnicom Group by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,894,753 shares of the business services provider’s stock valued at $141,121,000 after purchasing an additional 58,943 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on OMC. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Moffett Nathanson upped their price objective on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. 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 report on Thursday, March 28th. Finally, UBS Group began coverage on Omnicom Group in a report on Thursday, January 11th. They issued a “buy” rating and a $117.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Omnicom Group Stock Up 0.5 %

Shares of NYSE OMC opened at $94.22 on Wednesday. The stock has a market cap of $18.45 billion, a P/E ratio of 12.73, a PEG ratio of 2.20 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The business’s fifty day simple moving average is $91.84 and its 200-day simple moving average is $85.78.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. As a group, equities analysts predict that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s payout ratio is currently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now 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 is accessible through this link. Insiders own 1.30% of the company’s stock.

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.