Pinnacle Financial Partners Inc Cuts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Pinnacle Financial Partners Inc cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,064 shares of the business services provider’s stock after selling 7,687 shares during the quarter. Pinnacle Financial Partners Inc owned 0.09% of Omnicom Group worth $15,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OMC. World Investment Advisors LLC boosted its stake in Omnicom Group by 209.7% during the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after buying an additional 17,815 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in Omnicom Group during the third quarter worth $713,000. Thrivent Financial for Lutherans boosted its stake in Omnicom Group by 40.9% during the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after buying an additional 8,643 shares during the period. Assetmark Inc. boosted its stake in Omnicom Group by 2.0% during the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after buying an additional 9,774 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Omnicom Group by 19.7% during the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock worth $23,860,000 after buying an additional 38,022 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OMC shares. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Barclays lowered their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company decreased their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Omnicom Group Stock Performance

OMC opened at $82.27 on Friday. Omnicom Group Inc. has a 52-week low of $80.31 and a 52-week high of $107.00. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The company has a market cap of $16.16 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The firm’s 50-day moving average price is $85.60 and its 200-day moving average price is $95.21.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. Omnicom Group’s dividend payout ratio is currently 37.58%.

Omnicom Group 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.