Resources Management Corp CT ADV Sells 11,200 Shares of Omnicom Group Inc. $OMC

Resources Management Corp CT ADV decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,574 shares of the business services provider’s stock after selling 11,200 shares during the period. Resources Management Corp CT ADV’s holdings in Omnicom Group were worth $5,537,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OMC. Vanguard Group Inc. increased its position in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after acquiring an additional 15,220,444 shares in the last quarter. State Street Corp increased its position in shares of Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Omnicom Group during the third quarter worth $515,145,000. Bank of New York Mellon Corp grew its position in Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock valued at $911,172,000 after purchasing an additional 4,631,394 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after purchasing an additional 3,117,188 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OMC. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. UBS Group raised their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Down 0.2%

Omnicom Group stock opened at $76.52 on Monday. The company has a market cap of $21.81 billion, a P/E ratio of 196.21, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a fifty day simple moving average of $75.49 and a 200 day simple moving average of $76.66. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Omnicom Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 38.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.