RWC Asset Management LLP Cuts Stock Position in Omnicom Group Inc. (NYSE:OMC)

RWC Asset Management LLP cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 454,911 shares of the business services provider’s stock after selling 26,008 shares during the quarter. Omnicom Group accounts for approximately 2.4% of RWC Asset Management LLP’s investment portfolio, making the stock its 14th largest position. RWC Asset Management LLP owned 0.23% of Omnicom Group worth $39,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its position in Omnicom Group by 8.6% in the third 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 during the last quarter. Boston Partners lifted its position in Omnicom Group by 21.7% in the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock worth $277,726,000 after buying an additional 664,800 shares during the last quarter. Lazard Asset Management LLC lifted its position in 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 worth $225,842,000 after buying an additional 1,503,249 shares during the last quarter. Northern Trust Corp lifted its position in 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 worth $192,976,000 after buying an additional 301,927 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 worth $141,121,000 after buying an additional 58,943 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the firm’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 transaction of $43,936.62. Following the completion of the transaction, 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 accessible through this link. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Performance

OMC stock traded down $0.82 during trading on Friday, reaching $95.89. The company had a trading volume of 1,723,247 shares, compared to its average volume of 1,566,362. The firm has a 50-day simple moving average of $92.40 and a 200-day simple moving average of $86.07. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. 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 twelve month low of $72.20 and a twelve month high of $99.23.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors 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 yield of 2.92%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Analyst Ratings Changes

A number of analysts recently issued reports on OMC shares. Macquarie raised their price target on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Barclays raised their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, UBS Group began coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They issued a “buy” rating and a $117.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $103.40.

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.