Dimensional Fund Advisors LP Sells 273,822 Shares of Omnicom Group Inc. $OMC

Dimensional Fund Advisors LP lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 9.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,587,261 shares of the business services provider’s stock after selling 273,822 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Omnicom Group were worth $210,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. First Eagle Investment Management LLC purchased a new stake in shares of Omnicom Group during the third quarter valued at approximately $515,145,000. JPMorgan Chase & Co. boosted its position in Omnicom Group by 117.9% in the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after purchasing an additional 3,362,411 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after purchasing an additional 2,820,553 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Omnicom Group by 38.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock valued at $324,782,000 after purchasing an additional 1,255,197 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in Omnicom Group in the 2nd quarter valued at $67,048,000. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OMC. Citigroup lifted their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Morgan Stanley initiated coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target for the company. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Finally, Bank of America reiterated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

Omnicom Group Stock Up 0.2%

Shares of NYSE OMC opened at $84.90 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market capitalization of $26.35 billion, a PE ratio of 173.27, a P/E/G ratio of 0.81 and a beta of 0.71. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.27. The business’s fifty day moving average price is $77.83 and its 200-day moving average price is $77.05.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.During the same period in the previous year, the business posted $2.41 earnings per share. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.8%. Omnicom Group’s dividend payout ratio (DPR) is presently 653.06%.

Omnicom Group announced that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.