Omnicom Group Inc. $OMC Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 92.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,972 shares of the business services provider’s stock after selling 102,522 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Omnicom Group were worth $644,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Omnicom Group by 15.8% during the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after acquiring an additional 2,298,652 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Omnicom Group by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after purchasing an additional 1,893,316 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Omnicom Group in the third quarter valued at approximately $515,145,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Omnicom Group by 38.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on OMC shares. Citigroup lifted their price objective on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Bank of America reiterated an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Morgan Stanley initiated coverage on Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. UBS Group upped their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays increased their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.86.

Omnicom Group Stock Performance

NYSE:OMC opened at $75.66 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market cap of $23.48 billion, a PE ratio of 154.40, a P/E/G ratio of 0.62 and a beta of 0.71. The firm has a 50 day simple moving average of $77.52 and a 200-day simple moving average of $77.05. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17.

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 analysts’ consensus estimates of $2.94 by ($0.35). The firm 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 firm’s revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 EPS. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio is currently 653.06%.

Omnicom Group announced that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Omnicom Group 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.