Summit Global Investments Reduces Holdings in Omnicom Group Inc. (NYSE:OMC)

Summit Global Investments lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,004 shares of the business services provider’s stock after selling 699 shares during the quarter. Summit Global Investments’ holdings in Omnicom Group were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Omnicom Group by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock valued at $353,437,000 after buying an additional 374,874 shares in the last quarter. Boston Partners lifted its position in Omnicom Group by 21.7% during the 3rd quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after acquiring an additional 664,800 shares during the period. Lazard Asset Management LLC boosted its stake in Omnicom Group by 98.3% during the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after acquiring an additional 1,503,249 shares in the last quarter. Northern Trust Corp grew its holdings in Omnicom Group by 13.2% in the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock worth $192,976,000 after purchasing an additional 301,927 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Omnicom Group by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,894,753 shares of the business services provider’s stock valued at $141,121,000 after purchasing an additional 58,943 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on OMC shares. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, March 28th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Macquarie upped their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, UBS Group assumed coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average price target of $104.40.

Omnicom Group Stock Performance

Shares of OMC stock opened at $93.19 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average price of $93.01 and a 200-day moving average price of $86.99. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The firm has a market capitalization of $18.25 billion, a PE ratio of 12.59, a P/E/G ratio of 2.18 and a beta of 0.96.

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

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 8th. Omnicom Group’s payout ratio is currently 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now owns 9,753 shares of the company’s stock, valued at $845,194.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by company insiders.

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.