Rhumbline Advisers Decreases Holdings in Omnicom Group Inc. $OMC

Rhumbline Advisers reduced its position in Omnicom Group Inc. (NYSE:OMC) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 415,811 shares of the business services provider’s stock after selling 33,082 shares during the quarter. Rhumbline Advisers owned about 0.21% of Omnicom Group worth $29,913,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new stake in shares of Omnicom Group in the 2nd quarter worth $29,000. Zions Bancorporation National Association UT purchased a new stake in Omnicom Group in the first quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new stake in Omnicom Group in the second quarter worth about $34,000. Gen Wealth Partners Inc acquired a new stake in Omnicom Group in the first quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Omnicom Group during the first quarter worth about $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Barclays raised their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Stock Down 2.0%

OMC stock opened at $71.39 on Thursday. The company has a market capitalization of $13.78 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $105.99. The firm’s fifty day simple moving average is $76.04 and its 200-day simple moving average is $74.92. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company posted $2.03 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 19th. This represents a $3.20 annualized dividend and a dividend yield of 4.5%. Omnicom Group’s payout ratio is presently 41.36%.

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.