PNC Financial Services Group Inc. Cuts Stock Position in Omnicom Group Inc. (NYSE:OMC)

PNC Financial Services Group Inc. lessened its position in Omnicom Group Inc. (NYSE:OMC) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,076 shares of the business services provider’s stock after selling 857 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.14% of Omnicom Group worth $23,970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in 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 worth $353,437,000 after purchasing an additional 374,874 shares during the period. Boston Partners increased its holdings 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 worth $277,726,000 after purchasing an additional 664,800 shares during the period. Lazard Asset Management LLC increased its holdings in Omnicom Group by 98.3% during the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after purchasing an additional 1,503,249 shares during the period. Northern Trust Corp increased its holdings in Omnicom Group by 13.2% during the 3rd 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, Dimensional Fund Advisors LP increased its holdings in Omnicom Group by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,879 shares of the business services provider’s stock worth $160,557,000 after purchasing an additional 78,215 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $92.68, for a total value of $41,984.04. Following the transaction, the director now directly owns 9,830 shares of the company’s stock, valued at $911,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OMC shares. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $91.00 to $106.00 in a report on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. Macquarie upped their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Omnicom Group Price Performance

OMC stock opened at $94.98 on Wednesday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The stock’s fifty day simple moving average is $94.19 and its 200-day simple moving average is $88.62. 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 stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.15. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Equities research analysts expect that Omnicom Group Inc. will post 7.84 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s payout ratio is currently 37.84%.

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.