Concord Wealth Partners Sells 486 Shares of Omnicom Group Inc. (NYSE:OMC)

Concord Wealth Partners reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 12.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,558 shares of the business services provider’s stock after selling 486 shares during the period. Concord Wealth Partners’ holdings in Omnicom Group were worth $308,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aviva PLC increased its stake in shares of Omnicom Group by 406.1% in the 3rd quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock valued at $9,407,000 after acquiring an additional 101,348 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Omnicom Group during the third quarter valued at about $200,000. Raymond James & Associates boosted its position in shares of Omnicom Group by 3.3% during the 4th quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after purchasing an additional 13,709 shares in the last quarter. Arvest Investments Inc. bought a new position in shares of Omnicom Group during the 4th quarter worth about $1,969,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Omnicom Group by 1,627.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after buying an additional 62,640 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the transaction, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.9 %

Shares of OMC stock opened at $93.65 on Thursday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a 50-day simple moving average of $92.76 and a two-hundred day simple moving average of $86.55. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.18 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last released its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. Omnicom Group’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OMC. JPMorgan Chase & Co. increased their price target on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Moffett Nathanson lifted their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Barclays lifted their price objective on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, UBS Group began coverage on shares of Omnicom Group in a report on Thursday, January 11th. They issued a “buy” rating and a $117.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.40.

About Omnicom Group

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.