QRG Capital Management Inc. Trims Stake in Omnicom Group Inc. (NYSE:OMC)

QRG Capital Management Inc. reduced its position in Omnicom Group Inc. (NYSE:OMC) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,038 shares of the business services provider’s stock after selling 12,993 shares during the period. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $2,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in OMC. State Street Corp increased its holdings in 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 valued at $1,468,615,000 after buying an additional 759,980 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Omnicom Group by 2.4% during the 4th 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 acquiring an additional 156,438 shares during the period. Geode Capital Management LLC increased its stake in shares of Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock valued at $525,960,000 after purchasing an additional 72,447 shares in the last quarter. Barclays PLC raised its holdings in Omnicom Group by 1.7% in the 3rd quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock worth $84,741,000 after purchasing an additional 13,637 shares during the period. Finally, Bank of Montreal Can boosted its position in Omnicom Group by 23.6% during the third quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock worth $72,465,000 after purchasing an additional 134,927 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $82.75 on Friday. The firm has a 50-day simple moving average of $84.86 and a 200-day simple moving average of $94.83. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. Omnicom Group Inc. has a 52 week low of $80.31 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating 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 period in the prior year, the business posted $2.20 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. Omnicom Group’s payout ratio is 37.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OMC shares. Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Barclays dropped their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their price target on shares of 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 issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

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.