Concord Wealth Partners Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Concord Wealth Partners decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,558 shares of the business services provider’s stock after selling 486 shares during the quarter. Concord Wealth Partners’ holdings in Omnicom Group were worth $308,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Greenleaf Trust lifted its position in Omnicom Group by 0.5% in the fourth quarter. Greenleaf Trust now owns 22,329 shares of the business services provider’s stock worth $1,932,000 after purchasing an additional 119 shares during the period. Cambridge Trust Co. lifted its holdings in shares of Omnicom Group by 4.2% in the fourth quarter. Cambridge Trust Co. now owns 2,981 shares of the business services provider’s stock valued at $258,000 after buying an additional 121 shares during the period. Pinnacle Bancorp Inc. boosted its stake in Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Czech National Bank boosted its stake in Omnicom Group by 0.4% during the fourth quarter. Czech National Bank now owns 34,666 shares of the business services provider’s stock valued at $2,999,000 after buying an additional 134 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Omnicom Group by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 34,676 shares of the business services provider’s stock worth $3,000,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were 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 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 the SEC website. Company insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $93.65 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The company has a market capitalization of $18.34 billion, a PE ratio of 12.66, a PEG ratio of 2.18 and a beta of 0.96. The company’s 50 day moving average price is $92.76 and its 200 day moving average price is $86.55.

Omnicom Group (NYSE:OMC) last announced its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. Research analysts expect that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Wall Street Analyst Weigh In

OMC has been the subject of several research reports. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Thursday, March 28th. Moffett Nathanson raised their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Macquarie increased their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.40.

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.