Corient Private Wealth LLC Cuts Position in Omnicom Group Inc. (NYSE:OMC)

Corient Private Wealth LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,050 shares of the business services provider’s stock after selling 13,744 shares during the quarter. Corient Private Wealth LLC’s holdings in Omnicom Group were worth $7,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Thrivent Financial for Lutherans increased its stake in Omnicom Group by 40.9% in the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock valued at $3,077,000 after purchasing an additional 8,643 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Omnicom Group by 2.4% in the 3rd quarter. Pathstone Holdings LLC now owns 35,400 shares of the business services provider’s stock valued at $3,662,000 after buying an additional 835 shares during the last quarter. Prospera Financial Services Inc raised its stake in Omnicom Group by 14.9% during the 3rd quarter. Prospera Financial Services Inc now owns 7,050 shares of the business services provider’s stock worth $729,000 after acquiring an additional 915 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Omnicom Group by 17.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,777 shares of the business services provider’s stock valued at $494,000 after acquiring an additional 700 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Omnicom Group in the third quarter valued at $500,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of a number of research analyst reports. Barclays decreased their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. UBS Group reduced their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.75.

Omnicom Group Price Performance

OMC opened at $80.74 on Friday. Omnicom Group Inc. has a 52-week low of $78.69 and a 52-week high of $107.00. The company has a 50 day moving average of $83.71 and a two-hundred day moving average of $93.30. The company has a market cap of $15.86 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.94 and a beta of 0.98. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter last year, the firm posted $2.20 EPS. On average, analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

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.