Sienna Gestion Sells 130,217 Shares of Omnicom Group Inc. (NYSE:OMC)

by · The Markets Daily

Sienna Gestion cut its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 96.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,427 shares of the business services provider’s stock after selling 130,217 shares during the period. Sienna Gestion’s holdings in Omnicom Group were worth $467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OMC. Raymond James Financial Inc. bought a new stake in Omnicom Group during the fourth quarter worth approximately $79,321,000. State Street Corp grew its holdings in shares of Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. World Investment Advisors LLC increased its position in shares of Omnicom Group by 4,413.3% during the third quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after acquiring an additional 374,952 shares during the period. Arvest Bank Trust Division purchased a new position in Omnicom Group during the 3rd quarter worth $21,191,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock valued at $577,732,000 after buying an additional 156,438 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 0.8 %

Shares of OMC stock opened at $79.40 on Friday. Omnicom Group Inc. has a fifty-two week low of $78.69 and a fifty-two week high of $107.00. The firm has a market capitalization of $15.60 billion, a PE ratio of 10.66, a P/E/G ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The stock’s 50-day simple moving average is $84.08 and its 200-day simple moving average is $93.93.

Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter last year, the firm posted $2.20 earnings per share. Equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 annualized dividend and a yield of 3.53%. Omnicom Group’s dividend payout ratio is presently 37.58%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OMC. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Barclays lowered their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Macquarie reiterated an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Get Our Latest Stock Analysis on OMC

Omnicom Group Company Profile

(Free Report)

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.

See Also

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