Vest Financial LLC Sells 368,730 Shares of Omnicom Group Inc. (NYSE:OMC)

Vest Financial LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 93.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,760 shares of the business services provider’s stock after selling 368,730 shares during the period. Vest Financial LLC’s holdings in Omnicom Group were worth $2,053,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OMC. HF Advisory Group LLC boosted its stake in Omnicom Group by 25.1% during the 1st quarter. HF Advisory Group LLC now owns 4,847 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 973 shares during the last quarter. Financial Advisory Partners LLC boosted its holdings in shares of Omnicom Group by 62.0% in the first quarter. Financial Advisory Partners LLC now owns 26,968 shares of the business services provider’s stock worth $2,236,000 after buying an additional 10,324 shares during the last quarter. Sentry Investment Management LLC bought a new stake in Omnicom Group during the first quarter valued at approximately $47,000. Fulton Bank N.A. increased its holdings in Omnicom Group by 10.5% during the first quarter. Fulton Bank N.A. now owns 4,653 shares of the business services provider’s stock valued at $386,000 after buying an additional 442 shares during the last quarter. Finally, HBW Advisory Services LLC raised its position in Omnicom Group by 18.6% in the first quarter. HBW Advisory Services LLC now owns 37,100 shares of the business services provider’s stock worth $3,076,000 after acquiring an additional 5,822 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OMC. UBS Group cut their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of 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. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Citigroup reissued a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, Barclays reduced their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.29.

Omnicom Group Stock Up 1.7%

Shares of OMC opened at $71.43 on Friday. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The company has a market capitalization of $13.94 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The stock has a fifty day simple moving average of $74.51 and a two-hundred day simple moving average of $82.68. 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 (NYSE:OMC) last announced its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. As a group, equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.92%. Omnicom Group’s payout ratio is currently 38.30%.

Omnicom Group Company 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.