Chesley Taft & Associates LLC Sells 8,022 Shares of Omnicom Group Inc. $OMC

Chesley Taft & Associates LLC decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 36.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,160 shares of the business services provider’s stock after selling 8,022 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Omnicom Group were worth $1,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Acropolis Investment Management LLC lifted its position in shares of Omnicom Group by 6.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 16,010 shares of the business services provider’s stock worth $1,305,000 after purchasing an additional 1,015 shares during the period. Oak Thistle LLC purchased a new position in shares of Omnicom Group during the third quarter valued at about $1,296,000. HF Advisory Group LLC raised its stake in Omnicom Group by 88.2% in the third quarter. HF Advisory Group LLC now owns 12,692 shares of the business services provider’s stock worth $1,035,000 after buying an additional 5,949 shares in the last quarter. Nilsine Partners LLC lifted its holdings in Omnicom Group by 6.2% in the third quarter. Nilsine Partners LLC now owns 6,486 shares of the business services provider’s stock worth $529,000 after buying an additional 377 shares during the period. Finally, Cullen Capital Management LLC lifted its holdings in Omnicom Group by 7.3% in the second quarter. Cullen Capital Management LLC now owns 1,084,737 shares of the business services provider’s stock worth $78,036,000 after buying an additional 73,527 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OMC shares. UBS Group upped their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Morgan Stanley began coverage on shares of Omnicom Group in a report on Tuesday. They set an “equal weight” rating and a $88.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Barclays boosted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.57.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $81.70 on Friday. The business has a fifty day moving average price of $75.46 and a 200-day moving average price of $75.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $15.77 billion, a PE ratio of 12.07, a PEG ratio of 1.32 and a beta of 0.75. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $89.81.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. Omnicom Group’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. As a group, equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 19th. Omnicom Group’s payout ratio is 47.27%.

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.