Desjardins Global Asset Management Inc. Has $1.67 Million Stake in Omnicom Group Inc. (NYSE:OMC)

Desjardins Global Asset Management Inc. decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 14.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,243 shares of the business services provider’s stock after selling 3,293 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Omnicom Group were worth $1,665,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OMC. First Trust Advisors LP boosted its stake in Omnicom Group by 683.2% during the 1st quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock valued at $251,016,000 after purchasing an additional 2,579,717 shares during the period. Lazard Asset Management LLC boosted its stake 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 valued at $225,842,000 after purchasing an additional 1,503,249 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Omnicom Group by 81.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock valued at $144,111,000 after purchasing an additional 683,810 shares during the period. Boston Partners boosted its stake 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 purchasing an additional 664,800 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Omnicom Group during the 1st quarter valued at approximately $59,124,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Macquarie raised their price objective on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price objective on Omnicom Group from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Barclays raised their price objective on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and a consensus price target of $102.44.

Omnicom Group Trading Up 0.4 %

Shares of OMC opened at $90.93 on Wednesday. The stock has a fifty day moving average price of $91.13 and a two-hundred day moving average price of $85.09. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.86 and a current ratio of 0.95. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a market cap of $17.93 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 2.17 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4 billion. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. Analysts predict that Omnicom Group Inc. will post 7.73 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. Omnicom Group’s dividend payout ratio is presently 40.46%.

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.