American Century Companies Inc. Sells 293,616 Shares of Omnicom Group Inc. $OMC

American Century Companies Inc. lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 20.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,139,521 shares of the business services provider’s stock after selling 293,616 shares during the quarter. American Century Companies Inc. owned about 0.59% of Omnicom Group worth $92,905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital A Wealth Management LLC lifted its position in Omnicom Group by 548.3% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after acquiring an additional 318 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares during the period. Meeder Asset Management Inc. lifted its holdings in Omnicom Group by 289.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Omnicom Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 202 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in Omnicom Group in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC stock opened at $84.46 on Wednesday. The company’s 50-day moving average price is $77.52 and its two-hundred day moving average price is $76.88. The firm has a market cap of $26.21 billion, a P/E ratio of 172.37, a P/E/G ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.27.

Omnicom Group (NYSE:OMC) last posted its quarterly 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). 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% on a year-over-year basis. During the same quarter last year, the business posted $2.41 EPS. On average, analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its board has approved a share repurchase program on Wednesday, February 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Omnicom Group Announces Dividend

The firm also recently announced 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is currently 653.06%.

Analyst Ratings Changes

OMC has been the subject of a number of research reports. UBS Group lifted their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays increased their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Morgan Stanley started coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, Citigroup boosted their price target on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.00.

About Omnicom Group

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.