Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. raised its stake in Omnicom Group Inc. (NYSE:OMC) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,229 shares of the business services provider’s stock after buying an additional 708 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Omnicom Group were worth $708,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. World Investment Advisors LLC lifted its stake in Omnicom Group by 209.7% during the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after acquiring an additional 17,815 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Omnicom Group during the third quarter worth about $713,000. Franklin Resources Inc. lifted its position in shares of Omnicom Group by 19.7% during the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock worth $23,860,000 after purchasing an additional 38,022 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Omnicom Group by 15.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 376,701 shares of the business services provider’s stock valued at $32,411,000 after purchasing an additional 50,153 shares during the period. Finally, Arvest Bank Trust Division acquired a new position in shares of Omnicom Group in the third quarter valued at approximately $21,191,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OMC shares. JPMorgan Chase & Co. cut their price target on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group cut their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. 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, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $104.43.

Omnicom Group Trading Down 3.6 %

NYSE:OMC opened at $72.65 on Monday. Omnicom Group Inc. has a 52-week low of $71.24 and a 52-week high of $107.00. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The stock has a fifty day simple moving average of $82.42 and a 200-day simple moving average of $91.62. The company has a market capitalization of $14.28 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is presently 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.