Omnicom Group Inc. $OMC Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 25.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 209,490 shares of the business services provider’s stock after selling 70,131 shares during the quarter. Citigroup Inc. owned 0.11% of Omnicom Group worth $17,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in Omnicom Group in the second quarter valued at approximately $778,000. New York Life Investment Management LLC boosted its holdings in Omnicom Group by 0.7% during the second quarter. New York Life Investment Management LLC now owns 29,273 shares of the business services provider’s stock worth $2,106,000 after buying an additional 195 shares in the last quarter. World Investment Advisors grew its position in Omnicom Group by 63.6% during the second quarter. World Investment Advisors now owns 34,287 shares of the business services provider’s stock valued at $2,467,000 after buying an additional 13,334 shares during the period. Hantz Financial Services Inc. acquired a new stake in Omnicom Group during the second quarter valued at $47,000. Finally, Assetmark Inc. raised its position in shares of Omnicom Group by 21.8% in the second quarter. Assetmark Inc. now owns 665,170 shares of the business services provider’s stock worth $47,852,000 after acquiring an additional 119,012 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.6%

NYSE OMC opened at $85.19 on Friday. The business has a fifty day moving average price of $77.29 and a 200 day moving average price of $76.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.80 and a current ratio of 0.93. The company has a market cap of $26.44 billion, a P/E ratio of 173.85, a P/E/G ratio of 1.26 and a beta of 0.74. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.27.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. Research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group announced that its board has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. Omnicom Group’s dividend payout ratio is presently 653.06%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OMC. Bank of America restated an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Citigroup boosted their price objective on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 20th. UBS Group upped their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Morgan Stanley assumed coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.