Hartline Investment Corp Cuts Stake in Omnicom Group Inc. (NYSE:OMC)

Hartline Investment Corp cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,376 shares of the business services provider’s stock after selling 460 shares during the quarter. Hartline Investment Corp’s holdings in Omnicom Group were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ronald Blue Trust Inc. boosted its holdings in Omnicom Group by 64.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 199 shares during the last quarter. HB Wealth Management LLC acquired a new position in Omnicom Group in the 3rd quarter valued at about $205,000. State of Alaska Department of Revenue boosted its holdings in Omnicom Group by 5.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,979 shares of the business services provider’s stock valued at $1,934,000 after purchasing an additional 1,260 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Omnicom Group by 14.1% in the 3rd quarter. Avior Wealth Management LLC now owns 12,152 shares of the business services provider’s stock valued at $905,000 after purchasing an additional 1,500 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Omnicom Group by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 46,287 shares of the business services provider’s stock worth $3,451,000 after acquiring an additional 1,730 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OMC has been the subject of a number of research analyst reports. Macquarie increased their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $91.00 to $106.00 in a report on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, March 28th. Finally, Moffett Nathanson increased their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.40.

Omnicom Group Stock Up 1.9 %

NYSE:OMC traded up $1.76 during midday trading on Wednesday, hitting $95.98. 2,167,130 shares of the company were exchanged, compared to its average volume of 1,654,403. The company has a fifty day simple moving average of $91.84 and a 200 day simple moving average of $85.78. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $18.80 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 2.20 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the business earned $2.09 EPS. Omnicom Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Omnicom Group Inc. will post 7.81 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s payout ratio is currently 37.84%.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total transaction of $43,936.62. Following the transaction, the director now directly owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

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.