First Financial Bank Trust Division trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 12.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,154 shares of the business services provider’s stock after selling 2,847 shares during the quarter. First Financial Bank Trust Division’s holdings in Omnicom Group were worth $1,420,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Epoch Investment Partners Inc. acquired a new stake in shares of Omnicom Group during the 4th quarter valued at about $85,945,000. JPMorgan Chase & Co. lifted its holdings in Omnicom Group by 338.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,545,136 shares of the business services provider’s stock valued at $96,371,000 after purchasing an additional 1,192,716 shares in the last quarter. Norges Bank acquired a new stake in Omnicom Group in the 4th quarter worth about $60,936,000. Morgan Stanley lifted its position in shares of Omnicom Group by 172.1% in the fourth quarter. Morgan Stanley now owns 1,526,611 shares of the business services provider’s stock valued at $95,214,000 after acquiring an additional 965,567 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Omnicom Group by 64.7% during the 4th quarter. Lazard Asset Management LLC now owns 2,078,171 shares of the business services provider’s stock worth $129,615,000 after purchasing an additional 816,725 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.
OMC has been the subject of several research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Omnicom Group from $60.00 to $75.00 in a research note on Tuesday, December 15th. Smith Barney Citigroup upped their price target on Omnicom Group from $60.00 to $75.00 in a research report on Tuesday, December 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.71.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, February 18th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Omnicom Group had a return on equity of 36.90% and a net margin of 7.10%. During the same period in the prior year, the firm posted $1.89 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 4.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 8th. Stockholders of record on Wednesday, March 10th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 9th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.63%. Omnicom Group’s dividend payout ratio is currently 46.20%.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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