CIBC Asset Management Inc Sells 1,918 Shares of Omnicom Group Inc. (NYSE:OMC)

CIBC Asset Management Inc decreased its position in Omnicom Group Inc. (NYSE:OMCFree Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,473 shares of the business services provider’s stock after selling 1,918 shares during the quarter. CIBC Asset Management Inc’s holdings in Omnicom Group were worth $2,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OMC. HHM Wealth Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new stake in Omnicom Group during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. lifted its holdings in Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. First United Bank & Trust bought a new position in shares of Omnicom Group in the fourth quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Omnicom Group by 47.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Thursday, March 28th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Macquarie boosted their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.40.

Check Out Our Latest Report on OMC

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 453 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the sale, the director now owns 9,830 shares of the company’s stock, valued at $911,044.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $90.94 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The firm has a fifty day simple moving average of $93.88 and a two-hundred day simple moving average of $89.77. The stock has a market capitalization of $17.81 billion, a P/E ratio of 12.29, a PEG ratio of 2.12 and a beta of 0.96.

Omnicom Group (NYSE:OMCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.58 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. On average, analysts expect that Omnicom Group Inc. will post 7.84 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. Omnicom Group’s dividend payout ratio is presently 37.84%.

About Omnicom Group

(Free Report)

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.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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