GSB Wealth Management LLC Reduces Holdings in Omnicom Group Inc. (NYSE:OMC)

GSB Wealth Management LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 24.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,402 shares of the business services provider’s stock after selling 2,101 shares during the period. GSB Wealth Management LLC’s holdings in Omnicom Group were worth $531,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Berkshire Bank increased its holdings in Omnicom Group by 24.9% in the 1st quarter. Berkshire Bank now owns 3,233 shares of the business services provider’s stock worth $268,000 after buying an additional 645 shares during the period. Inscription Capital LLC acquired a new position in Omnicom Group in the 1st quarter worth approximately $185,000. Grove Bank & Trust increased its holdings in Omnicom Group by 1,136.4% in the 1st quarter. Grove Bank & Trust now owns 1,088 shares of the business services provider’s stock worth $90,000 after buying an additional 1,000 shares during the period. Sowell Financial Services LLC acquired a new position in Omnicom Group in the 1st quarter worth approximately $543,000. Finally, Janney Montgomery Scott LLC increased its holdings in Omnicom Group by 424.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,396 shares of the business services provider’s stock worth $9,153,000 after buying an additional 89,332 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on OMC. UBS Group cut their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Citigroup reiterated a “buy” rating and issued a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays cut their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Trading Down 2.1%

Omnicom Group stock opened at $69.21 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The stock’s 50 day simple moving average is $74.16 and its two-hundred day simple moving average is $81.09. The firm has a market cap of $13.50 billion, a PE ratio of 9.47, a P/E/G ratio of 1.70 and a beta of 0.93.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.05%. Omnicom Group’s dividend payout ratio (DPR) is 38.30%.

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.