LRI Investments LLC Trims Position in Omnicom Group Inc. (NYSE:OMC)

LRI Investments LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 23.9% during the first quarter, HoldingsChannel.com reports. The firm owned 2,279 shares of the business services provider’s stock after selling 714 shares during the period. LRI Investments LLC’s holdings in Omnicom Group were worth $189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 50.1% in the fourth 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 in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Omnicom Group in the fourth quarter worth $150,819,000. FMR LLC boosted its stake in Omnicom Group by 250.1% during the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock valued at $172,987,000 after buying an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Omnicom Group by 91.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock worth $184,730,000 after acquiring an additional 1,027,567 shares during the period. Finally, First Trust Advisors LP raised its position in Omnicom Group by 23.8% in the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider’s stock worth $334,076,000 after acquiring an additional 747,575 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on OMC. Citigroup restated a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. UBS Group reduced their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Finally, 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.29.

Omnicom Group Stock Performance

OMC stock opened at $72.79 on Monday. The stock has a market cap of $14.20 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.60 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01. The firm has a 50 day simple moving average of $73.29 and a 200 day simple moving average of $78.42. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00.

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

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, June 10th. Omnicom Group’s payout ratio is currently 38.30%.

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.