Legal & General Group Plc Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Legal & General Group Plc decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 19.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,245,729 shares of the business services provider’s stock after selling 305,949 shares during the period. Legal & General Group Plc owned about 0.63% of Omnicom Group worth $107,183,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Omnicom Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider’s stock worth $1,982,518,000 after purchasing an additional 99,424 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Omnicom Group by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock worth $577,732,000 after acquiring an additional 156,438 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Omnicom Group by 50.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after acquiring an additional 1,992,695 shares during the period. Geode Capital Management LLC boosted its stake in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider’s stock worth $442,453,000 after acquiring an additional 51,148 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its holdings in Omnicom Group by 7.1% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider’s stock worth $292,698,000 after purchasing an additional 224,870 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OMC shares. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays reduced their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and a consensus price target of $104.43.

Omnicom Group Trading Down 3.4 %

OMC opened at $73.93 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The stock’s fifty day moving average is $80.73 and its two-hundred day moving average is $90.55. The company has a market capitalization of $14.53 billion, a P/E ratio of 9.92, a PEG ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a 52 week low of $69.13 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same period in the previous year, the firm posted $2.20 earnings per share. Analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.58%.

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.