JPMorgan Chase & Co. Sells 36,340 Shares of Omnicom Group Inc. (NYSE:OMC)

JPMorgan Chase & Co. cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,119,452 shares of the business services provider’s stock after selling 36,340 shares during the period. JPMorgan Chase & Co.’s holdings in Omnicom Group were worth $115,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OMC. Northwest Investment Counselors LLC bought a new position in shares of Omnicom Group during the 3rd quarter worth approximately $33,000. Davis Capital Management bought a new position in Omnicom Group in the third quarter valued at $36,000. HM Payson & Co. increased its stake in Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Omnicom Group by 66.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Omnicom Group during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC opened at $86.04 on Thursday. The company’s 50-day moving average is $97.55 and its 200-day moving average is $96.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market capitalization of $16.79 billion, a PE ratio of 11.75, a PEG ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a fifty-two week low of $84.43 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. Equities analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a yield of 3.25%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.25%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated Friday, October 18th. The shares were 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 in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OMC shares. Bank of America lifted their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. UBS Group upped their price objective on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company decreased their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.