Nuveen Asset Management LLC Trims Stake in Omnicom Group Inc. (NYSE:OMC)

Nuveen Asset Management LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 26.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,352 shares of the business services provider’s stock after selling 146,788 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of Omnicom Group worth $35,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Center For Asset Management LLC increased its stake in shares of Omnicom Group by 3.3% in the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock worth $389,000 after acquiring an additional 146 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock valued at $105,000 after buying an additional 147 shares during the last quarter. MGO One Seven LLC raised its stake in Omnicom Group by 3.2% during the fourth quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock valued at $437,000 after buying an additional 157 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Omnicom Group by 6.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,523 shares of the business services provider’s stock valued at $217,000 after buying an additional 161 shares during the last quarter. Finally, Convergence Financial LLC raised its stake in Omnicom Group by 6.5% during the fourth quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider’s stock valued at $232,000 after buying an additional 165 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OMC. Wells Fargo & Company lowered their price objective on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Barclays dropped their target price on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. UBS Group dropped their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Citigroup reaffirmed a “buy” rating and set a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. Finally, Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Trading Down 1.1%

NYSE:OMC opened at $76.10 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 12 month low of $69.13 and a 12 month high of $107.00. The company has a market cap of $14.85 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a 50 day simple moving average of $76.65 and a two-hundred day simple moving average of $85.35.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, June 10th. Omnicom Group’s payout ratio is currently 38.30%.

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.