PNC Financial Services Group Inc. Lowers Holdings in Omnicom Group Inc. (NYSE:OMC)

PNC Financial Services Group Inc. decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,077 shares of the business services provider’s stock after selling 28,922 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of Omnicom Group worth $20,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OMC. ST Germain D J Co. Inc. bought a new position in Omnicom Group in the fourth quarter worth about $25,000. Versant Capital Management Inc grew its position in shares of Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after buying an additional 271 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 195 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Omnicom Group during the third quarter valued at approximately $55,000. Finally, Trust Co. of Vermont boosted its stake in Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OMC shares. Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Barclays lowered their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective 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. Finally, Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Trading Up 0.7 %

Omnicom Group stock opened at $85.62 on Tuesday. The stock has a 50-day moving average price of $84.42 and a 200 day moving average price of $94.25. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98. Omnicom Group Inc. has a 52 week low of $79.57 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.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating the consensus estimate 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 business posted $2.20 earnings per share. Sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.27%. The ex-dividend date is Tuesday, March 11th. 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.