Omnicom Group Inc. (NYSE:OMC) Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,076 shares of the business services provider’s stock after selling 857 shares during the quarter. PNC Financial Services Group Inc. owned about 0.14% of Omnicom Group worth $23,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC bought a new stake in Omnicom Group in the fourth quarter worth about $26,000. Frazier Financial Advisors LLC bought a new stake in Omnicom Group in the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. increased its stake in Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in Omnicom Group in the 4th quarter worth about $29,000. Finally, First United Bank & Trust purchased a new position in Omnicom Group in the 4th quarter worth about $35,000. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of analyst reports. Moffett Nathanson lifted their price target on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Macquarie lifted their target price on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Omnicom Group Stock Up 1.9 %

Shares of Omnicom Group stock opened at $90.08 on Tuesday. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The stock has a 50-day simple moving average of $93.19 and a 200-day simple moving average of $90.42.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.15. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.58 billion. On average, equities research analysts expect that Omnicom Group Inc. will post 7.84 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Activity

In other news, Director Linda Johnson Rice sold 453 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the sale, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

About Omnicom Group

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.