Patten Group Inc. Sells 2,319 Shares of Omnicom Group Inc. (NYSE:OMC)

Patten Group Inc. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.1% in the 4th quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. bought a new stake in shares of Omnicom Group in the fourth quarter worth approximately $25,000. Versant Capital Management Inc boosted its holdings in Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after purchasing an additional 271 shares during the last quarter. Venturi Wealth Management LLC grew its position in Omnicom Group by 146.6% in the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 195 shares during the period. Trust Co. of Vermont raised its stake in Omnicom Group by 742.4% during the 4th quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after buying an additional 490 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Omnicom Group during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on OMC shares. Barclays cut their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price target 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. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. Finally, Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Trading Down 2.5 %

Omnicom Group stock opened at $80.73 on Tuesday. Omnicom Group Inc. has a 12-month low of $80.08 and a 12-month high of $107.00. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.94 and a beta of 0.97. The firm has a 50 day moving average of $84.74 and a 200 day moving average of $94.73. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Omnicom Group’s dividend payout ratio is presently 37.58%.

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.