Swiss National Bank Sells 24,000 Shares of Omnicom Group Inc. (NYSE:OMC)

Swiss National Bank trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 617,800 shares of the business services provider’s stock after selling 24,000 shares during the period. Swiss National Bank owned 0.31% of Omnicom Group worth $53,446,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OMC. Commonwealth Equity Services LLC grew its holdings in shares of Omnicom Group by 1.5% during the third quarter. Commonwealth Equity Services LLC now owns 87,056 shares of the business services provider’s stock worth $6,484,000 after purchasing an additional 1,258 shares during the last quarter. Forsta AP Fonden grew its holdings in Omnicom Group by 11.0% during the 3rd quarter. Forsta AP Fonden now owns 53,600 shares of the business services provider’s stock worth $3,992,000 after acquiring an additional 5,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Omnicom Group by 176.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,409 shares of the business services provider’s stock valued at $6,883,000 after acquiring an additional 58,958 shares during the period. AMF Tjanstepension AB raised its stake in shares of Omnicom Group by 84.5% during the third quarter. AMF Tjanstepension AB now owns 35,232 shares of the business services provider’s stock valued at $2,624,000 after acquiring an additional 16,132 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Omnicom Group by 3.8% during the third quarter. IFM Investors Pty Ltd now owns 38,862 shares of the business services provider’s stock worth $2,894,000 after purchasing an additional 1,423 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.5 %

Omnicom Group stock opened at $93.19 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market cap of $18.25 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The firm’s 50-day simple moving average is $93.01 and its 200 day simple moving average is $86.99.

Omnicom Group (NYSE:OMC) last announced its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 EPS. Research analysts predict that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OMC. JPMorgan Chase & Co. raised their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Moffett Nathanson increased their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, March 28th. Finally, UBS Group started coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They issued a “buy” rating and a $117.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the transaction, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

About Omnicom Group

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.