Commerce Bank reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 9.1% during the 1st quarter, HoldingsChannel reports. The firm owned 61,777 shares of the business services provider’s stock after selling 6,169 shares during the period. Commerce Bank’s holdings in Omnicom Group were worth $4,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OMC. American International Group Inc. boosted its position in shares of Omnicom Group by 1,169.5% during the 4th quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock worth $416,263,000 after purchasing an additional 5,235,862 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Omnicom Group by 24.9% during the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock worth $1,443,122,000 after purchasing an additional 4,228,195 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Omnicom Group by 6,842.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock worth $54,000 after purchasing an additional 3,917,700 shares in the last quarter. Norges Bank purchased a new stake in shares of Omnicom Group during the 4th quarter worth $158,391,000. Finally, BlackRock Inc. boosted its position in shares of Omnicom Group by 5.3% during the 4th quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock worth $1,163,417,000 after purchasing an additional 796,300 shares in the last quarter.

In related news, Director Leonard S. Coleman, Jr. sold 2,556 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $75.25, for a total value of $192,339.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan B. Nelson sold 4,916 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $84.22, for a total transaction of $414,025.52. Following the completion of the transaction, the chief executive officer now directly owns 83,858 shares of the company’s stock, valued at approximately $7,062,520.76. The disclosure for this sale can be found here. Insiders sold a total of 72,910 shares of company stock valued at $5,834,558 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

OMC has been the subject of several research reports. Macquarie set a $76.00 price target on Omnicom Group and gave the stock a “hold” rating in a research note on Thursday, February 14th. BMO Capital Markets lifted their price target on Omnicom Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Friday, January 25th. Citigroup lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Finally, Barclays raised Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $76.00 to $84.00 in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $77.33.

NYSE:OMC opened at $79.19 on Friday. The firm has a market cap of $17.63 billion, a PE ratio of 13.77, a PEG ratio of 2.86 and a beta of 0.71. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.79. Omnicom Group Inc. has a 52-week low of $65.85 and a 52-week high of $84.35.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.09. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a return on equity of 44.01% and a net margin of 8.76%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. On average, analysts expect that Omnicom Group Inc. will post 5.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, June 13th. Omnicom Group’s payout ratio is 45.22%.

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About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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