Congress Wealth Management LLC DE Lowers Stake in Omnicom Group Inc. (NYSE:OMC)

Congress Wealth Management LLC DE trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 49.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 67,969 shares of the business services provider’s stock after selling 66,633 shares during the period. Congress Wealth Management LLC DE’s holdings in Omnicom Group were worth $5,848,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OMC. Vanguard Group Inc. grew its position in Omnicom Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider’s stock valued at $1,982,518,000 after buying an additional 99,424 shares during the last quarter. State Street Corp boosted its holdings in shares of Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after acquiring an additional 759,980 shares in the last quarter. Bank of New York Mellon Corp increased 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 worth $577,732,000 after acquiring an additional 156,438 shares during the period. Geode Capital Management LLC increased its stake in shares of Omnicom Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock worth $525,960,000 after acquiring an additional 72,447 shares during the period. Finally, Cooke & Bieler LP lifted its position in Omnicom Group by 3.9% in the fourth quarter. Cooke & Bieler LP now owns 2,450,757 shares of the business services provider’s stock valued at $210,863,000 after purchasing an additional 92,685 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OMC shares. JPMorgan Chase & Co. cut their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Barclays reduced their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Omnicom Group Stock Performance

Shares of OMC opened at $80.38 on Wednesday. Omnicom Group Inc. has a 12-month low of $78.69 and a 12-month high of $107.00. The stock has a market cap of $15.79 billion, a P/E ratio of 10.79, a PEG ratio of 1.94 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $83.53 and a two-hundred day moving average of $92.81.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (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 period last year, the company posted $2.20 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is presently 37.58%.

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.