Integrated Wealth Concepts LLC Lowers Stake in Omnicom Group Inc. (NYSE:OMC)

Integrated Wealth Concepts LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,208 shares of the business services provider’s stock after selling 423 shares during the period. Integrated Wealth Concepts LLC’s holdings in Omnicom Group were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OMC. Wedmont Private Capital lifted its holdings in Omnicom Group by 6.0% during the 2nd quarter. Wedmont Private Capital now owns 3,845 shares of the business services provider’s stock worth $359,000 after buying an additional 218 shares in the last quarter. M&G Plc acquired a new stake in Omnicom Group during the 2nd quarter worth approximately $924,000. PGGM Investments lifted its holdings in Omnicom Group by 4.2% during the 2nd quarter. PGGM Investments now owns 37,324 shares of the business services provider’s stock worth $3,348,000 after buying an additional 1,513 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Omnicom Group by 4.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,302 shares of the business services provider’s stock worth $1,193,000 after buying an additional 510 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Omnicom Group by 3,657.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 107,550 shares of the business services provider’s stock worth $9,647,000 after buying an additional 104,688 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $92.46 on Wednesday. The company’s fifty day moving average price is $102.43 and its 200 day moving average price is $97.34. Omnicom Group Inc. has a 12 month low of $82.26 and a 12 month high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market capitalization of $18.04 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.32 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business earned $1.86 EPS. As a group, sell-side analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, December 20th. Omnicom Group’s payout ratio is currently 38.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OMC shares. Barclays increased their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Macquarie raised their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.89.

Omnicom Group Company 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.