Sumitomo Mitsui DS Asset Management Company Ltd Sells 6,513 Shares of Omnicom Group Inc. $OMC

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in Omnicom Group Inc. (NYSE:OMC) by 21.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,023 shares of the business services provider’s stock after selling 6,513 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Omnicom Group were worth $1,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OMC. Capital A Wealth Management LLC raised its position in Omnicom Group by 548.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after purchasing an additional 318 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Omnicom Group in the second quarter worth approximately $34,000. City Holding Co. lifted its stake in shares of Omnicom Group by 1,373.5% during the 3rd quarter. City Holding Co. now owns 501 shares of the business services provider’s stock worth $41,000 after acquiring an additional 467 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Omnicom Group during the 2nd quarter valued at $37,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Morgan Stanley initiated coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Bank of America reiterated an “underperform” rating and set a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Hold” and an average target price of $92.14.

Omnicom Group Price Performance

Shares of OMC opened at $77.43 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a market capitalization of $14.94 billion, a PE ratio of 11.44, a PEG ratio of 1.30 and a beta of 0.74. The company has a 50 day moving average price of $76.27 and a 200-day moving average price of $76.13. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $89.35.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 EPS. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Increases Dividend

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

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.