Cibc World Markets Corp Acquires 3,054 Shares of Omnicom Group Inc. (NYSE:OMC)

Cibc World Markets Corp raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,025 shares of the business services provider’s stock after buying an additional 3,054 shares during the period. Cibc World Markets Corp’s holdings in Omnicom Group were worth $13,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Omnicom Group in the 4th quarter worth about $79,321,000. State Street Corp grew its position in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after purchasing an additional 759,980 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of Omnicom Group by 4,413.3% during the third quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after purchasing an additional 374,952 shares in the last quarter. Arvest Bank Trust Division bought a new position in Omnicom Group in the third quarter valued at $21,191,000. Finally, Bank of New York Mellon Corp grew its position in Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock valued at $577,732,000 after acquiring an additional 156,438 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on OMC. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered 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 research report on Tuesday, December 10th. Finally, Barclays cut their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Trading Down 0.7 %

Shares of Omnicom Group stock opened at $80.29 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a market capitalization of $15.78 billion, a PE ratio of 10.78, a P/E/G ratio of 1.94 and a beta of 0.98. Omnicom Group Inc. has a 1-year low of $78.69 and a 1-year high of $107.00. The company’s fifty day simple moving average is $83.89 and its 200-day simple moving average is $93.61.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share 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 earned $2.20 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is 37.58%.

About Omnicom Group

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.