Everence Capital Management Inc. Sells 3,670 Shares of Omnicom Group Inc. (NYSE:OMC)

Everence Capital Management Inc. decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 35.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,559 shares of the business services provider’s stock after selling 3,670 shares during the quarter. Everence Capital Management Inc.’s holdings in Omnicom Group were worth $564,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 271 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group during the third quarter worth approximately $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group in the third quarter valued at about $36,000. HM Payson & Co. lifted its stake in Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Omnicom Group Price Performance

Shares of OMC opened at $85.89 on Friday. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.07 and a beta of 0.94. The stock has a 50 day moving average of $96.97 and a 200-day moving average of $96.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 52 week low of $84.43 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter last year, the company earned $1.86 EPS. As a group, analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, December 20th. Omnicom Group’s payout ratio is currently 38.25%.

Analyst Ratings Changes

OMC has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. UBS Group boosted their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

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.