Cerity Partners LLC Sells 12,916 Shares of Omnicom Group Inc. (NYSE:OMC)

Cerity Partners LLC lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 24.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 39,547 shares of the business services provider’s stock after selling 12,916 shares during the quarter. Cerity Partners LLC’s holdings in Omnicom Group were worth $3,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OMC. Envestnet Portfolio Solutions Inc. lifted its position in Omnicom Group by 5.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,856 shares of the business services provider’s stock worth $1,192,000 after acquiring an additional 714 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Omnicom Group in the fourth quarter valued at approximately $1,481,000. Xponance Inc. increased its stake in shares of Omnicom Group by 4.2% during the fourth quarter. Xponance Inc. now owns 31,266 shares of the business services provider’s stock worth $2,690,000 after purchasing an additional 1,273 shares during the period. Teacher Retirement System of Texas lifted its holdings in Omnicom Group by 225.9% during the 4th quarter. Teacher Retirement System of Texas now owns 181,014 shares of the business services provider’s stock worth $15,574,000 after purchasing an additional 125,470 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Omnicom Group by 194.6% in the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 323 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 0.3%

Shares of Omnicom Group stock opened at $71.08 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.41 and a beta of 0.92. The firm’s 50-day moving average price is $72.86 and its two-hundred day moving average price is $78.03.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 EPS. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 40.17%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Citigroup reaffirmed a “buy” rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company decreased their target price on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Monday, June 23rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

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.