Manning & Napier Advisors LLC Lowers Stock Holdings in Omnicom Group Inc. $OMC

Manning & Napier Advisors LLC cut its position in Omnicom Group Inc. (NYSE:OMC) by 46.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,145 shares of the business services provider’s stock after selling 31,838 shares during the period. Manning & Napier Advisors LLC’s holdings in Omnicom Group were worth $3,028,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OMC. Bollard Group LLC boosted its holdings in Omnicom Group by 6.0% during the 2nd quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 145 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Omnicom Group by 4.3% in the third quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 156 shares during the period. Resonant Capital Advisors LLC boosted its stake in shares of Omnicom Group by 2.7% in the second quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 168 shares during the period. Binnacle Investments Inc increased its stake in Omnicom Group by 17.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after buying an additional 169 shares during the period. Finally, EPG Wealth Management LLC increased its stake in Omnicom Group by 2.3% during the 2nd quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 3.4%

Shares of NYSE OMC opened at $80.15 on Thursday. The business has a 50-day moving average of $76.40 and a two-hundred day moving average of $76.16. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $89.35. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC) last released 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 company 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%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $2.03 earnings per share. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were paid a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, December 19th. Omnicom Group’s payout ratio is currently 47.27%.

Analyst Ratings Changes

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