Pinnacle Financial Partners Inc Reduces Stake in Omnicom Group Inc. (NYSE:OMC)

Pinnacle Financial Partners Inc lowered its position in Omnicom Group Inc. (NYSE:OMC) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,064 shares of the business services provider’s stock after selling 7,687 shares during the period. Pinnacle Financial Partners Inc’s holdings in Omnicom Group were worth $15,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of OMC. Blue Trust Inc. raised its stake in shares of Omnicom Group by 122.0% during the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the business services provider’s stock worth $277,000 after buying an additional 1,475 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Omnicom Group by 17.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after buying an additional 97 shares during the period. Foundations Investment Advisors LLC raised its stake in Omnicom Group by 4.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 7,594 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 294 shares during the last quarter. Signaturefd LLC raised its stake in Omnicom Group by 14.8% in the 3rd quarter. Signaturefd LLC now owns 6,150 shares of the business services provider’s stock valued at $636,000 after purchasing an additional 794 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in Omnicom Group by 2.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,563 shares of the business services provider’s stock valued at $1,299,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $82.27 on Friday. The stock has a 50-day simple moving average of $85.60 and a 200-day simple moving average of $95.21. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The stock has a market capitalization of $16.16 billion, a PE ratio of 11.04, a PEG ratio of 1.94 and a beta of 0.97. Omnicom Group Inc. has a 1 year low of $80.31 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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 period in the previous year, the firm posted $2.20 earnings per share. On average, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.58%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OMC. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. Barclays cut their target price 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. JPMorgan Chase & Co. cut their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Wells Fargo & Company lowered their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company 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 six have issued a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $108.25.

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.