Gateway Investment Advisers LLC Sells 97,207 Shares of Omnicom Group Inc. $OMC

Gateway Investment Advisers LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 76.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,874 shares of the business services provider’s stock after selling 97,207 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Omnicom Group were worth $2,412,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB grew its position in shares of Omnicom Group by 2.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,330 shares of the business services provider’s stock worth $598,000 after buying an additional 145 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its position in shares of Omnicom Group by 4.1% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock worth $305,000 after buying an additional 147 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Omnicom Group by 7.9% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,031 shares of the business services provider’s stock worth $166,000 after buying an additional 149 shares during the last quarter. Impact Partnership Wealth LLC grew its position in shares of Omnicom Group by 3.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 4,923 shares of the business services provider’s stock worth $401,000 after buying an additional 150 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Omnicom Group by 4.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock worth $305,000 after buying an additional 156 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 0.2%

Omnicom Group stock opened at $77.04 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $78.07 and its two-hundred day simple moving average is $76.78. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 197.55, a price-to-earnings-growth ratio of 0.46 and a beta of 0.66.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group declared that its board has authorized a stock buyback program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

Analysts Set New Price Targets

OMC has been the topic of a number of recent analyst reports. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group lifted their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Citigroup dropped their price target on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.71.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.