Lazard Asset Management LLC lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 174,277 shares of the business services provider’s stock after selling 46,444 shares during the quarter. Lazard Asset Management LLC owned 0.08% of Omnicom Group worth $12,692,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Omnicom Group by 1.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,420 shares of the business services provider’s stock worth $3,735,000 after buying an additional 804 shares during the last quarter. Creative Planning boosted its stake in shares of Omnicom Group by 17.4% in the fourth quarter. Creative Planning now owns 5,513 shares of the business services provider’s stock worth $402,000 after buying an additional 817 shares during the last quarter. Union Bankshares Corp boosted its stake in shares of Omnicom Group by 2.9% in the fourth quarter. Union Bankshares Corp now owns 29,208 shares of the business services provider’s stock worth $2,127,000 after buying an additional 830 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Omnicom Group by 123.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,531 shares of the business services provider’s stock worth $112,000 after buying an additional 847 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Omnicom Group by 15.9% in the fourth quarter. D.A. Davidson & CO. now owns 6,434 shares of the business services provider’s stock worth $469,000 after buying an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 98.62% of the company’s stock.
In related news, Treasurer Dennis E. Hewitt sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $77.38, for a total value of $154,760.00. Following the completion of the sale, the treasurer now owns 42,561 shares of the company’s stock, valued at $3,293,370.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
Shares of Omnicom Group Inc. (NYSE OMC) traded up $0.24 during mid-day trading on Wednesday, reaching $73.96. The company’s stock had a trading volume of 1,731,640 shares, compared to its average volume of 2,830,839. Omnicom Group Inc. has a 52 week low of $65.32 and a 52 week high of $86.71. The stock has a market capitalization of $16,913.15, a P/E ratio of 15.94, a P/E/G ratio of 2.26 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 0.93 and a debt-to-equity ratio of 1.56.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Omnicom Group had a return on equity of 40.67% and a net margin of 7.12%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. equities research analysts anticipate that Omnicom Group Inc. will post 5.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Investors of record on Friday, March 9th will be issued a $0.60 dividend. The ex-dividend date is Thursday, March 8th. This represents a $2.40 annualized dividend and a dividend yield of 3.24%. Omnicom Group’s dividend payout ratio is presently 51.72%.
A number of analysts have recently commented on the company. Barclays restated a “hold” rating and issued a $81.00 target price on shares of Omnicom Group in a research note on Thursday, January 25th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Pivotal Research lowered their target price on Omnicom Group from $76.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 15th. Macquarie upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Friday, February 16th. Finally, ValuEngine downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $82.77.
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About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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