Steigerwald Gordon & Koch Inc. Sells 3,121 Shares of Omnicom Group Inc. (NYSE:OMC)

Steigerwald Gordon & Koch Inc. lowered its holdings in Omnicom Group Inc. (NYSE:OMC) by 1.9% during the first quarter, HoldingsChannel.com reports. The fund owned 158,971 shares of the business services provider’s stock after selling 3,121 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Omnicom Group were worth $13,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Omnicom Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider’s stock worth $1,982,518,000 after buying an additional 99,424 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock valued at $577,732,000 after purchasing an additional 156,438 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after purchasing an additional 1,992,695 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider’s stock valued at $442,453,000 after purchasing an additional 51,148 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider’s stock valued at $334,076,000 after purchasing an additional 747,575 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OMC. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Citigroup restated a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company cut their price objective on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Barclays cut their target price on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, UBS Group lowered their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Stock Down 0.3%

Omnicom Group stock opened at $71.25 on Thursday. The company has a market cap of $13.90 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00. The company has a fifty day simple moving average of $74.93 and a 200 day simple moving average of $83.17. 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 (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 38.30%.

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.