Handelsbanken Fonder AB Sells 44,646 Shares of Omnicom Group Inc. (NYSE:OMC)

Handelsbanken Fonder AB lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 46.5% in the first quarter, Holdings Channel.com reports. The fund owned 51,405 shares of the business services provider’s stock after selling 44,646 shares during the quarter. Handelsbanken Fonder AB’s holdings in Omnicom Group were worth $4,262,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its stake in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 195 shares during the period. Johnson Financial Group Inc. increased its stake in Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider’s stock worth $29,000 after buying an additional 200 shares during the period. Versant Capital Management Inc lifted its holdings in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after buying an additional 143 shares in the last quarter. CoreCap Advisors LLC boosted its position in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider’s stock valued at $40,000 after buying an additional 404 shares during the period. Finally, Whittier Trust Co. boosted its position in Omnicom Group by 194.6% in the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after buying an additional 323 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMC. Barclays reduced their target price on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company decreased their target price on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Citigroup restated a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Stock Down 2.5%

Omnicom Group stock opened at $69.42 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The firm has a market cap of $13.54 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.94 and a beta of 0.93. The business has a fifty day moving average of $74.30 and a two-hundred day moving average of $81.73. Omnicom Group Inc. has a twelve month low of $69.13 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly 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. The firm had revenue of $3.69 billion during 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%. On average, 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 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. Omnicom Group’s dividend payout ratio is presently 38.30%.

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.