Omnicom Group Inc. (OMC) Position Trimmed by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,077 shares of the business services provider’s stock after selling 3,243 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of Omnicom Group worth $34,745,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in OMC. Parallel Advisors LLC boosted its stake in Omnicom Group by 8.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after acquiring an additional 104 shares during the last quarter. Dupont Capital Management Corp bought a new position in Omnicom Group during the 2nd quarter worth approximately $104,000. Acrospire Investment Management LLC bought a new position in Omnicom Group during the 2nd quarter worth approximately $149,000. Eagle Ridge Investment Management bought a new position in Omnicom Group during the 3rd quarter worth approximately $201,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Omnicom Group during the 3rd quarter worth approximately $205,000. 98.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up $1.32 on Tuesday, reaching $74.70. 4,181,200 shares of the company’s stock were exchanged, compared to its average volume of 1,922,481. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $89.66. The company has a market capitalization of $16,916.49, a price-to-earnings ratio of 14.77, a P/E/G ratio of 1.98 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 19th will be issued a $0.60 dividend. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. Omnicom Group’s dividend payout ratio (DPR) is 43.82%.
In other news, Director Linda Johnson Rice sold 489 shares of Omnicom Group stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the sale, the director now directly owns 7,777 shares in the company, valued at $577,986.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Several research analysts recently weighed in on OMC shares. Credit Suisse Group lifted their price objective on shares of Omnicom Group from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Telsey Advisory Group raised shares of Omnicom Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $89.00 in a research note on Wednesday, October 18th. TheStreet lowered shares of Omnicom Group from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Friday, October 13th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Omnicom Group has an average rating of “Hold” and an average target price of $84.00.
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Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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