Sumitomo Mitsui DS Asset Management Company Ltd Cuts Holdings in Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Omnicom Group Inc. (NYSE:OMC) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,136 shares of the business services provider’s stock after selling 235 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Omnicom Group were worth $2,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aviva PLC increased its holdings in Omnicom Group by 406.1% in the third quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock valued at $9,407,000 after buying an additional 101,348 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Omnicom Group in the third quarter valued at about $200,000. Raymond James & Associates grew its position in shares of Omnicom Group by 3.3% in the fourth quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock valued at $37,471,000 after purchasing an additional 13,709 shares during the period. Arvest Investments Inc. acquired a new stake in shares of Omnicom Group in the fourth quarter valued at about $1,969,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Omnicom Group by 1,627.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after purchasing an additional 62,640 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In other news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the sale, the director now directly owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. Macquarie lifted their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $103.40.

Omnicom Group Price Performance

Shares of OMC stock opened at $94.22 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. The firm’s 50-day moving average is $91.84 and its two-hundred day moving average is $85.78. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a market capitalization of $18.45 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97.

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

Omnicom Group Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Omnicom Group 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.