Fmr LLC Sells 20,186 Shares of Omnicom Group Inc. (NYSE:OMC)

Fmr LLC trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,316 shares of the business services provider’s stock after selling 20,186 shares during the quarter. Fmr LLC owned approximately 0.29% of Omnicom Group worth $59,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. Innealta Capital LLC bought a new position in Omnicom Group during the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group during the third quarter worth $33,000. Davis Capital Management acquired a new position in Omnicom Group in the third quarter valued at $36,000. HM Payson & Co. boosted its position in Omnicom Group by 84.5% during 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 last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Omnicom Group by 66.3% during the 2nd 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 period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

Shares of OMC stock opened at $103.44 on Friday. Omnicom Group Inc. has a 12 month low of $81.41 and a 12 month high of $107.00. The firm has a market capitalization of $20.18 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The firm has a fifty day simple moving average of $102.63 and a two-hundred day simple moving average of $97.27. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

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

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend yield of 2.71%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America boosted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Finally, Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by insiders.

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.