Advisors Asset Management Inc. Trims Holdings in Omnicom Group Inc. $OMC

Advisors Asset Management Inc. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 29.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,242 shares of the business services provider’s stock after selling 11,977 shares during the quarter. Advisors Asset Management Inc.’s holdings in Omnicom Group were worth $2,303,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC purchased a new stake in Omnicom Group in the third quarter worth about $202,000. Wealthfront Advisers LLC lifted its position in shares of Omnicom Group by 22.2% in the 3rd quarter. Wealthfront Advisers LLC now owns 23,810 shares of the business services provider’s stock worth $1,941,000 after purchasing an additional 4,323 shares during the period. Profund Advisors LLC lifted its position in shares of Omnicom Group by 57.2% in the 3rd quarter. Profund Advisors LLC now owns 13,471 shares of the business services provider’s stock worth $1,098,000 after purchasing an additional 4,902 shares during the period. ProShare Advisors LLC boosted its stake in shares of Omnicom Group by 1.3% during the third quarter. ProShare Advisors LLC now owns 44,527 shares of the business services provider’s stock valued at $3,630,000 after purchasing an additional 576 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Omnicom Group by 1.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 23,298 shares of the business services provider’s stock valued at $1,899,000 after buying an additional 306 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Up 2.7%

OMC stock opened at $69.07 on Monday. The stock has a market capitalization of $13.33 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.74. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.27. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $77.34 and a 200 day moving average of $76.35.

Omnicom Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, December 19th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s payout ratio is currently 47.27%.

Analysts Set New Price Targets

OMC has been the subject of a number of recent research reports. Bank of America reissued an “underperform” rating and issued a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. UBS Group boosted their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays raised their price objective on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley began coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.14.

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.