Millennium Management LLC Decreases Position in Omnicom Group Inc. (NYSE:OMC)

Millennium Management LLC cut its stake in Omnicom Group Inc. (NYSE:OMC) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 445,198 shares of the business services provider’s stock after selling 55,796 shares during the quarter. Millennium Management LLC’s holdings in Omnicom Group were worth $38,305,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMC. Barclays PLC lifted its stake in Omnicom Group by 1.7% in the 3rd quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after buying an additional 13,637 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Omnicom Group by 29.3% in the 4th quarter. Park Avenue Securities LLC now owns 13,121 shares of the business services provider’s stock valued at $1,129,000 after acquiring an additional 2,970 shares during the last quarter. Carnegie Investment Counsel raised its holdings in Omnicom Group by 3.0% in the 4th quarter. Carnegie Investment Counsel now owns 23,017 shares of the business services provider’s stock valued at $1,980,000 after acquiring an additional 680 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Omnicom Group by 4.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,539 shares of the business services provider’s stock valued at $907,000 after acquiring an additional 447 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Omnicom Group in the 4th quarter valued at about $1,544,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.9%

Shares of NYSE OMC opened at $76.98 on Friday. The company has a 50 day simple moving average of $76.78 and a 200-day simple moving average of $85.69. The company has a market capitalization of $15.02 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. Omnicom Group Inc. has a 1 year low of $69.13 and a 1 year high of $107.00.

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

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.64%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.30%.

Analyst Ratings Changes

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

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.