Summit Global Investments Has $260,000 Stake in Omnicom Group Inc. (NYSE:OMC)

Summit Global Investments reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,004 shares of the business services provider’s stock after selling 699 shares during the period. Summit Global Investments’ holdings in Omnicom Group were worth $260,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OMC. Commonwealth Equity Services LLC lifted its stake in Omnicom Group by 1.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 87,056 shares of the business services provider’s stock valued at $6,484,000 after purchasing an additional 1,258 shares during the last quarter. Forsta AP Fonden raised its stake in Omnicom Group by 11.0% in the third quarter. Forsta AP Fonden now owns 53,600 shares of the business services provider’s stock valued at $3,992,000 after buying an additional 5,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Omnicom Group by 176.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,409 shares of the business services provider’s stock valued at $6,883,000 after buying an additional 58,958 shares during the last quarter. AMF Tjanstepension AB boosted its stake in shares of Omnicom Group by 84.5% during the 3rd quarter. AMF Tjanstepension AB now owns 35,232 shares of the business services provider’s stock worth $2,624,000 after acquiring an additional 16,132 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in shares of Omnicom Group by 3.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 38,862 shares of the business services provider’s stock worth $2,894,000 after acquiring an additional 1,423 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s 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 sale, the director now owns 9,753 shares of the company’s stock, valued at $845,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on OMC shares. Macquarie upped their target price on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. 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. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. 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 note on Thursday, March 28th. Finally, Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $110.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $104.40.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $93.19 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The firm has a market cap of $18.25 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The firm’s fifty day moving average is $93.01 and its 200-day moving average is $86.99.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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 return on equity of 38.23% and a net margin of 9.96%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the company earned $2.09 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 7.81 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently announced 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 is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 3.00%. Omnicom Group’s payout ratio is 37.84%.

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.