Omnicom Group Inc. $OMC Stock Position Decreased by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in Omnicom Group Inc. (NYSE:OMC) by 35.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,580 shares of the business services provider’s stock after selling 7,906 shares during the quarter. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $1,189,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Omnicom Group by 6.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,621 shares of the business services provider’s stock worth $1,989,000 after purchasing an additional 1,581 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Omnicom Group by 34.8% in the second quarter. Exchange Traded Concepts LLC now owns 13,300 shares of the business services provider’s stock worth $957,000 after purchasing an additional 3,433 shares in the last quarter. IFM Investors Pty Ltd increased its position in Omnicom Group by 7.8% during the second quarter. IFM Investors Pty Ltd now owns 38,331 shares of the business services provider’s stock worth $2,758,000 after buying an additional 2,788 shares during the last quarter. Sowell Financial Services LLC raised its holdings in Omnicom Group by 23.6% during the second quarter. Sowell Financial Services LLC now owns 8,090 shares of the business services provider’s stock valued at $582,000 after buying an additional 1,545 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its holdings in Omnicom Group by 6.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 5,976 shares of the business services provider’s stock valued at $430,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $78.01 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market cap of $15.05 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. The firm has a fifty day moving average price of $76.89 and a two-hundred day moving average price of $76.33. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $89.35.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.80 dividend. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.20 annualized dividend and a yield of 4.1%. Omnicom Group’s payout ratio is currently 47.27%.

Analyst Ratings Changes

OMC has been the topic of a number of analyst reports. Morgan Stanley started coverage on Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Bank of America reiterated an “underperform” rating and issued a $77.00 target price (down previously from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.