Zacks Investment Management Lowers Holdings in Omnicom Group Inc. (NYSE:OMC)

Zacks Investment Management lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.7% in the third quarter, HoldingsChannel reports. The fund owned 31,353 shares of the business services provider’s stock after selling 539 shares during the quarter. Zacks Investment Management’s holdings in Omnicom Group were worth $3,242,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OMC. Bank of New York Mellon Corp increased its position in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the last quarter. State Street Corp increased its holdings in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after buying an additional 759,980 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Omnicom Group in the 2nd quarter worth $56,177,000. Dimensional Fund Advisors LP raised its position in shares of Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after buying an additional 364,665 shares during the period. Finally, Conning Inc. acquired a new position in Omnicom Group in the second quarter valued at $32,484,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OMC has been the subject of several research analyst reports. Barclays upped their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Price Performance

Shares of OMC stock opened at $103.42 on Monday. The firm has a fifty day simple moving average of $102.64 and a 200-day simple moving average of $97.35. The company has a market capitalization of $20.18 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $81.41 and a twelve month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the business posted $1.86 EPS. Equities research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 38.25%.

Insider Buying and Selling at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

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.