Hartford Investment Management Co. Sells 236 Shares of Omnicom Group Inc. (NYSE:OMC)

Hartford Investment Management Co. reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 12,189 shares of the business services provider’s stock after selling 236 shares during the quarter. Hartford Investment Management Co.’s holdings in Omnicom Group were worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. State Street Corp raised its stake in shares of Omnicom Group by 5.7% in the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after purchasing an additional 759,980 shares during the period. Geode Capital Management LLC raised its position in Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after buying an additional 72,447 shares during the last quarter. 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 acquiring an additional 13,637 shares in the last quarter. Bank of Montreal Can boosted its position in Omnicom Group by 23.6% during the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock worth $72,465,000 after acquiring an additional 134,927 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Omnicom Group by 16.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 695,216 shares of the business services provider’s stock worth $71,878,000 after acquiring an additional 97,661 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Up 0.4 %

Shares of Omnicom Group stock opened at $82.28 on Friday. Omnicom Group Inc. has a 1 year low of $80.31 and a 1 year high of $107.00. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16.17 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The firm’s 50 day moving average is $86.71 and its 200 day moving average is $95.65.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter last year, the business earned $2.20 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 8.32 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s payout ratio is presently 37.58%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OMC shares. Barclays lowered their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday. Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Wells Fargo & Company dropped their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

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.