RWC Asset Management LLP Cuts Stock Position in Omnicom Group Inc. $OMC

RWC Asset Management LLP lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 7.0% during the 3rd quarter, Holdings Channel reports. The firm owned 376,607 shares of the business services provider’s stock after selling 28,294 shares during the quarter. Omnicom Group makes up about 1.5% of RWC Asset Management LLP’s holdings, making the stock its 17th biggest position. RWC Asset Management LLP’s holdings in Omnicom Group were worth $30,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Omnicom Group by 1.5% in the second quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock worth $1,712,993,000 after purchasing an additional 344,652 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Omnicom Group by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock worth $566,152,000 after purchasing an additional 691,560 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after purchasing an additional 3,362,411 shares during the last quarter. Geode Capital Management LLC boosted its stake in Omnicom Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 5,339,385 shares of the business services provider’s stock worth $382,717,000 after purchasing an additional 48,868 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Omnicom Group by 38.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock valued at $324,782,000 after purchasing an additional 1,255,197 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.2%

Shares of Omnicom Group stock opened at $78.15 on Tuesday. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $89.35. 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 business’s fifty day moving average is $76.19 and its two-hundred day moving average is $76.09. The firm has a market cap of $15.08 billion, a PE ratio of 11.54, a P/E/G ratio of 1.31 and a beta of 0.74.

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, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 earnings per share. Analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a dividend of $0.80 per share. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, December 19th. Omnicom Group’s payout ratio is currently 47.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on OMC shares. Bank of America reaffirmed an “underperform” rating and issued a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. UBS Group lifted their target price on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Finally, Barclays upped their price objective on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.14.

Omnicom Group 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.