Miller Howard Investments Inc. NY Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

Miller Howard Investments Inc. NY cut its stake in Omnicom Group Inc. (NYSE:OMC) by 92.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,293 shares of the business services provider’s stock after selling 66,018 shares during the period. Miller Howard Investments Inc. NY’s holdings in Omnicom Group were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Robinson Value Management Ltd. boosted its holdings in Omnicom Group by 3.9% in the fourth quarter. Robinson Value Management Ltd. now owns 34,078 shares of the business services provider’s stock worth $2,932,000 after purchasing an additional 1,283 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of Omnicom Group by 119.7% during the 4th quarter. WCM Investment Management LLC now owns 4,561 shares of the business services provider’s stock valued at $391,000 after buying an additional 2,485 shares during the period. Empirical Finance LLC boosted its stake in shares of Omnicom Group by 39.2% in the 4th quarter. Empirical Finance LLC now owns 18,578 shares of the business services provider’s stock worth $1,598,000 after buying an additional 5,231 shares during the last quarter. Empowered Funds LLC increased its position in Omnicom Group by 4.1% during the fourth quarter. Empowered Funds LLC now owns 112,129 shares of the business services provider’s stock valued at $9,648,000 after acquiring an additional 4,420 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Omnicom Group by 3.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 5,626 shares of the business services provider’s stock valued at $484,000 after acquiring an additional 200 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent research reports. UBS Group boosted their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Barclays reduced their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Price Performance

NYSE:OMC opened at $83.76 on Monday. The business’s 50-day simple moving average is $88.46 and its two-hundred day simple moving average is $95.98. Omnicom Group Inc. has a 52 week low of $81.42 and a 52 week high of $107.00. The stock has a market cap of $16.46 billion, a PE ratio of 11.24, a P/E/G ratio of 1.94 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, analysts forecast that Omnicom Group Inc. will post 8.32 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 20th. This represents a $2.80 annualized dividend and a yield of 3.34%. Omnicom Group’s payout ratio is 37.58%.

Omnicom Group 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.