Bank of Montreal Can decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,404 shares of the business services provider’s stock after selling 161,415 shares during the quarter. Bank of Montreal Can owned 0.27% of Omnicom Group worth $42,829,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Donoghue Forlines LLC grew its holdings in shares of Omnicom Group by 4.9% during the fourth quarter. Donoghue Forlines LLC now owns 16,037 shares of the business services provider’s stock valued at $1,175,000 after buying an additional 756 shares in the last quarter. Fort L.P. boosted its position in Omnicom Group by 3.9% during the fourth quarter. Fort L.P. now owns 15,167 shares of the business services provider’s stock valued at $1,111,000 after purchasing an additional 565 shares during the last quarter. Great Valley Advisor Group Inc. boosted its position in Omnicom Group by 13.2% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,614 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 537 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in Omnicom Group by 13.5% during the fourth quarter. Citizens Financial Group Inc RI now owns 7,637 shares of the business services provider’s stock valued at $565,000 after purchasing an additional 907 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Omnicom Group by 7.9% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 21,941 shares of the business services provider’s stock valued at $1,608,000 after purchasing an additional 1,603 shares during the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.
In related news, Director Linda Johnson Rice sold 1,900 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $77.88, for a total transaction of $147,972.00. Following the transaction, the director now directly owns 9,784 shares in the company, valued at $761,977.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.
Omnicom Group (NYSE:OMC – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.11. Omnicom Group had a return on equity of 37.06% and a net margin of 9.06%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Omnicom Group Inc. will post 6.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 10th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.80 annualized dividend and a dividend yield of 3.74%. Omnicom Group’s dividend payout ratio is presently 46.43%.
OMC has been the subject of a number of research reports. Bank of America lifted their price objective on Omnicom Group from $67.00 to $77.00 and gave the company an “underperform” rating in a research report on Wednesday, February 9th. Argus raised Omnicom Group from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Friday, March 18th. Wolfe Research boosted their price target on Omnicom Group from $81.00 to $85.00 and gave the stock a “peer perform” rating in a research report on Wednesday, February 9th. Wells Fargo & Company boosted their price target on Omnicom Group from $85.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 9th. Finally, BMO Capital Markets boosted their price target on Omnicom Group from $82.00 to $89.00 in a research report on Thursday, April 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.80.
Omnicom Group Company Profile (Get Rating)
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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