Everence Capital Management Inc. Sells 3,670 Shares of Omnicom Group Inc. (NYSE:OMC)

Everence Capital Management Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 35.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,559 shares of the business services provider’s stock after selling 3,670 shares during the quarter. Everence Capital Management Inc.’s holdings in Omnicom Group were worth $564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in Omnicom Group by 5.7% in the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after acquiring an additional 759,980 shares during the period. Los Angeles Capital Management LLC acquired a new position in Omnicom Group in the second quarter valued at about $56,177,000. World Investment Advisors LLC raised its position in shares of Omnicom Group by 4,413.3% in the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock valued at $39,645,000 after buying an additional 374,952 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after purchasing an additional 364,665 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Omnicom Group by 73.0% during the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after buying an additional 324,196 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.6 %

OMC stock opened at $85.89 on Friday. The business’s 50 day moving average price is $96.97 and its two-hundred day moving average price is $96.85. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth 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 issued its earnings results 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 net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $1.86 earnings per share. As a group, analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.26%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OMC shares. UBS Group raised their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company dropped their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. 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 report on Thursday, October 17th. Finally, Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insider Activity

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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.