Verition Fund Management LLC Sells 15,253 Shares of Omnicom Group Inc. (NYSE:OMC)

Verition Fund Management LLC decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 73.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,491 shares of the business services provider’s stock after selling 15,253 shares during the period. Verition Fund Management LLC’s holdings in Omnicom Group were worth $568,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Omnicom Group during the 2nd quarter worth about $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group in the 3rd quarter worth approximately $33,000. Davis Capital Management acquired a new position in shares of Omnicom Group during the third quarter worth approximately $36,000. HM Payson & Co. boosted its position in shares of Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares during the period. Finally, Richardson Financial Services Inc. grew its stake in shares of Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after acquiring an additional 224 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Down 0.4 %

Shares of NYSE:OMC opened at $92.46 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.32 and a beta of 0.94. The company has a 50 day moving average of $102.43 and a 200-day moving average of $97.34. Omnicom Group Inc. has a one year low of $82.26 and a one year high of $107.00.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the business earned $1.86 EPS. On average, sell-side analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OMC shares. Macquarie upped their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America upped their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.89.

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.