Cresset Asset Management LLC Trims Holdings in Omnicom Group Inc. (NYSE:OMC)

Cresset Asset Management LLC lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 82.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,021 shares of the business services provider’s stock after selling 38,244 shares during the period. Cresset Asset Management LLC’s holdings in Omnicom Group were worth $695,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Barclays reduced their target price on Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. UBS Group reduced their target price on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Citigroup reiterated a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.29.

Omnicom Group Trading Down 0.1%

Omnicom Group stock opened at $77.49 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $77.25 and its two-hundred day simple moving average is $86.23. Omnicom Group Inc. has a 12 month low of $69.13 and a 12 month high of $107.00. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 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.