Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 4.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 798,696 shares of the business services provider’s stock after selling 39,462 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Omnicom Group were worth $60,150,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in OMC. EverSource Wealth Advisors LLC lifted its position in shares of Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after purchasing an additional 869 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Omnicom Group in the second quarter valued at approximately $241,000. Gabelli Funds LLC acquired a new stake in shares of Omnicom Group in the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. raised its position in Omnicom Group by 5.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. raised its position in Omnicom Group by 14.1% in the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after purchasing an additional 44,746 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.
Omnicom Group Trading Up 1.4%
OMC stock traded up $1.14 during midday trading on Friday, hitting $81.97. 2,425,687 shares of the company’s stock were exchanged, compared to its average volume of 4,929,007. The stock’s fifty day moving average price is $75.29 and its 200-day moving average price is $76.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The company has a market cap of $23.36 billion, a PE ratio of 210.20, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17.
Omnicom Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 10th were given a $0.80 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. Omnicom Group’s payout ratio is currently 820.51%.
Wall Street Analysts Forecast Growth
OMC has been the topic of several research reports. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. UBS Group upped their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.38.
Get Our Latest Research Report on Omnicom Group
Omnicom Group Profile
Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.
The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.
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