Victory Capital Management Inc. Sells 176,641 Shares of Omnicom Group Inc. (NYSE:OMC)

Victory Capital Management Inc. decreased its position in Omnicom Group Inc. (NYSE:OMC) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,621 shares of the business services provider’s stock after selling 176,641 shares during the quarter. Victory Capital Management Inc. owned approximately 0.25% of Omnicom Group worth $42,184,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 8.6% in 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 acquiring an additional 374,874 shares in the last quarter. Boston Partners grew its position in Omnicom Group by 21.7% during the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after buying an additional 664,800 shares during the period. Lazard Asset Management LLC grew its position in Omnicom Group by 98.3% during 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 buying an additional 1,503,249 shares during the period. Northern Trust Corp grew its position in Omnicom Group by 13.2% during 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 buying an additional 301,927 shares during the period. Finally, Principal Financial Group Inc. grew its position in Omnicom Group by 3.2% during 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 buying an additional 58,943 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OMC. Moffett Nathanson increased their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Macquarie increased their price target 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. Barclays increased their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, UBS Group began coverage on shares of Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Omnicom Group Trading Up 0.1 %

Shares of Omnicom Group stock opened at $92.75 on Monday. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.18 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average price is $92.93 and its 200-day moving average price is $86.86.

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

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s payout ratio is 37.84%.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction dated 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 $845,194.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

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.