Congress Wealth Management LLC DE Lowers Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Congress Wealth Management LLC DE lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 49.5% during the fourth quarter, HoldingsChannel reports. The firm owned 67,969 shares of the business services provider’s stock after selling 66,633 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Omnicom Group were worth $5,848,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Omnicom Group during the fourth quarter worth about $79,321,000. State Street Corp lifted its holdings in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after acquiring an additional 759,980 shares during the period. World Investment Advisors LLC grew its holdings in Omnicom Group by 4,413.3% in the third quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock valued at $39,645,000 after purchasing an additional 374,952 shares during the period. Arvest Bank Trust Division acquired a new position in Omnicom Group during the third quarter worth approximately $21,191,000. Finally, Bank of New York Mellon Corp raised its stake in Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock worth $577,732,000 after purchasing an additional 156,438 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OMC. Wells Fargo & Company lowered their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. UBS Group cut their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Barclays cut their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $80.38 on Wednesday. The business’s 50-day simple moving average is $83.53 and its 200 day simple moving average is $92.81. The company has a market cap of $15.79 billion, a P/E ratio of 10.79, a PEG ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. Omnicom Group Inc. has a one year low of $78.69 and a one year high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $2.20 EPS. On average, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. Omnicom Group’s payout ratio is currently 37.58%.

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.