Omnicom Group Inc. $OMC Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 46.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,420 shares of the business services provider’s stock after selling 6,559 shares during the quarter. Praxis Investment Management Inc.’s holdings in Omnicom Group were worth $605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital A Wealth Management LLC boosted its stake in shares of Omnicom Group by 548.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after buying an additional 318 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of Omnicom Group in the second quarter worth $29,000. Ameritas Advisory Services LLC acquired a new stake in Omnicom Group in the second quarter valued at $34,000. CYBER HORNET ETFs LLC acquired a new stake in Omnicom Group in the second quarter valued at $37,000. Finally, MUFG Securities EMEA plc bought a new position in Omnicom Group during the 2nd quarter valued at $42,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on OMC shares. Barclays raised their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. UBS Group lifted their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.33.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $80.56 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a 50-day simple moving average of $75.30 and a 200 day simple moving average of $74.84. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $91.86. The company has a market cap of $15.55 billion, a PE ratio of 11.90, a P/E/G ratio of 1.28 and a beta of 0.75.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the firm earned $2.03 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be issued a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. Omnicom Group’s dividend payout ratio is 47.27%.

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.