Omnicom Group Inc. (NYSE:OMC) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 73.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,491 shares of the business services provider’s stock after selling 15,253 shares during the period. Verition Fund Management LLC’s holdings in Omnicom Group were worth $568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Omnicom Group in the second quarter valued at $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 3rd quarter worth about $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at about $36,000. HM Payson & Co. lifted its position in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its stake in Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after purchasing an additional 224 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 0.4 %

Omnicom Group stock opened at $92.46 on Wednesday. The firm’s 50 day moving average price is $102.43 and its two-hundred day moving average price is $97.34. The firm has a market cap of $18.04 billion, a PE ratio of 12.63, a P/E/G ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $82.26 and a twelve month high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. On average, research analysts predict that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Omnicom Group’s dividend payout ratio is currently 38.25%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays upped their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie increased their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.89.

Omnicom Group Profile

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.