JPMorgan Chase & Co. Has $115.74 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

JPMorgan Chase & Co. reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. 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. owned about 0.57% of Omnicom Group worth $115,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in shares of 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 purchasing an additional 759,980 shares during the period. Los Angeles Capital Management LLC bought a new stake in Omnicom Group in the second quarter valued at $56,177,000. World Investment Advisors LLC raised its stake in Omnicom Group by 4,413.3% during the third quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after acquiring an additional 374,952 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $205,682,000 after acquiring an additional 364,665 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Omnicom Group by 73.0% in the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after purchasing an additional 324,196 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OMC shares. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” 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 for the company in a report on Tuesday, December 10th. Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Finally, Barclays raised their target price on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’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 value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Omnicom Group Trading Up 0.3 %

Shares of OMC opened at $86.04 on Thursday. The stock’s fifty day simple moving average is $97.55 and its 200-day simple moving average is $96.95. The firm has a market capitalization of $16.79 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a 12-month low of $84.43 and a 12-month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last posted 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. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the previous year, the company earned $1.86 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

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

Omnicom Group Company 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.