Pflug Koory LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,025 shares of the business services provider’s stock after selling 310 shares during the period. Pflug Koory LLC’s holdings in Omnicom Group were worth $367,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. NuWave Investment Management LLC raised its stake in shares of Omnicom Group by 1,876.5% during the 4th quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock worth $25,000 after buying an additional 319 shares in the last quarter. Sontag Advisory LLC purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $28,000. Eukles Asset Management purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $29,000. Capital Financial Planning LLC purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $30,000. Finally, JOYN Advisors Inc. raised its stake in shares of Omnicom Group by 47.2% during the 4th quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter.
NYSE:OMC traded up $0.47 during trading hours on Thursday, reaching $75.66. 1,335,014 shares of the company traded hands, compared to its average volume of 1,882,325. The stock has a market cap of $16.77 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.82 and a current ratio of 0.90. Omnicom Group Inc. has a 1-year low of $65.85 and a 1-year high of $78.75.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Monday, March 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, March 8th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.60. Omnicom Group’s dividend payout ratio is currently 45.22%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Friday, January 25th. Citigroup upped their price target on Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. BMO Capital Markets lowered their price target on Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Finally, Macquarie set a $76.00 price target on Omnicom Group and gave the stock a “hold” rating in a report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.60.
In other Omnicom Group news, Director Linda Johnson Rice sold 495 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $74.79, for a total transaction of $37,021.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $75.25, for a total value of $192,339.00. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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