Millennium Management LLC Sells 55,796 Shares of Omnicom Group Inc. (NYSE:OMC)

Millennium Management LLC cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,198 shares of the business services provider’s stock after selling 55,796 shares during the quarter. Millennium Management LLC owned approximately 0.23% of Omnicom Group worth $38,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Center For Asset Management LLC increased its position in shares of Omnicom Group by 3.3% in the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock valued at $389,000 after acquiring an additional 146 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Omnicom Group by 13.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 147 shares during the period. MGO One Seven LLC increased its position in shares of Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock valued at $437,000 after acquiring an additional 157 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Omnicom Group by 6.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,523 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 161 shares during the period. Finally, Convergence Financial LLC increased its position in shares of Omnicom Group by 6.5% in the 4th quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 165 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 0.9%

OMC stock opened at $76.98 on Friday. The company’s 50-day simple moving average is $76.78 and its 200-day simple moving average is $85.69. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The firm has a market cap of $15.02 billion, a P/E ratio of 10.33, a PEG ratio of 1.94 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. As a group, equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, June 10th. Omnicom Group’s payout ratio is currently 38.30%.

Analysts Set New Price Targets

OMC has been the topic of several research reports. UBS Group cut their target price on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company cut their target price on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Barclays lowered their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Argus lowered 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, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.29.

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.