Patten Group Inc. Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Patten Group Inc. trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,522 shares of the business services provider’s stock after selling 2,319 shares during the quarter. Patten Group Inc.’s holdings in Omnicom Group were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OMC. Farther Finance Advisors LLC increased its position in shares of Omnicom Group by 2.1% in the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock worth $514,000 after purchasing an additional 102 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Omnicom Group by 1.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider’s stock worth $683,000 after buying an additional 113 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Omnicom Group by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 6,302 shares of the business services provider’s stock worth $652,000 after buying an additional 120 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Omnicom Group by 1.1% in the 3rd quarter. Gold Investment Management Ltd. now owns 11,223 shares of the business services provider’s stock worth $1,159,000 after buying an additional 127 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in shares of Omnicom Group by 3.5% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 3,870 shares of the business services provider’s stock valued at $400,000 after buying an additional 130 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OMC has been the subject of several research reports. Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Barclays dropped their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Stock Down 2.5 %

Shares of NYSE:OMC opened at $80.73 on Tuesday. 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 stock has a fifty day simple moving average of $84.74 and a two-hundred day simple moving average of $94.73. Omnicom Group Inc. has a 12-month low of $80.08 and a 12-month high of $107.00. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.94 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted $2.20 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. 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.