Allspring Global Investments Holdings LLC Cuts Position in Omnicom Group Inc. (NYSE:OMC)

Allspring Global Investments Holdings LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 33.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,918 shares of the business services provider’s stock after selling 33,697 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Omnicom Group were worth $5,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Omnicom Group in the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. grew its stake in Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. KB Financial Partners LLC grew its stake in Omnicom Group by 1,326.1% in the 2nd quarter. KB Financial Partners LLC now owns 328 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 305 shares during the last quarter. Carolinas Wealth Consulting LLC grew its stake in Omnicom Group by 1,805.9% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 307 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its stake in Omnicom Group by 64.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 199 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OMC shares. UBS Group started coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They issued a “buy” rating and a $117.00 price objective on the stock. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $91.00 to $106.00 in a research note on Wednesday. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, March 28th. Macquarie raised their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Omnicom Group Price Performance

OMC opened at $91.48 on Friday. The company’s 50 day simple moving average is $91.35 and its 200 day simple moving average is $85.18. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.86 and a current ratio of 0.95. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23. The stock has a market capitalization of $18.04 billion, a PE ratio of 12.36, a P/E/G ratio of 2.18 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.83%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm posted $2.09 earnings per share. Omnicom Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Omnicom Group Inc. will post 7.73 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 3.06%. Omnicom Group’s payout ratio is 37.84%.

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.