Palisade Asset Management LLC Sells 200 Shares of Omnicom Group Inc. (NYSE:OMC)

Palisade Asset Management LLC decreased its position in Omnicom Group Inc. (NYSE:OMC) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,113 shares of the business services provider’s stock after selling 200 shares during the quarter. Palisade Asset Management LLC’s holdings in Omnicom Group were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in shares of Omnicom Group by 1.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 87,056 shares of the business services provider’s stock valued at $6,484,000 after acquiring an additional 1,258 shares during the period. Forsta AP Fonden lifted its stake in shares of Omnicom Group by 11.0% in the 3rd quarter. Forsta AP Fonden now owns 53,600 shares of the business services provider’s stock valued at $3,992,000 after purchasing an additional 5,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Omnicom Group by 176.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,409 shares of the business services provider’s stock valued at $6,883,000 after acquiring an additional 58,958 shares during the period. AMF Tjanstepension AB lifted its stake in Omnicom Group by 84.5% in the third quarter. AMF Tjanstepension AB now owns 35,232 shares of the business services provider’s stock worth $2,624,000 after purchasing an additional 16,132 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Omnicom Group by 3.8% during the third quarter. IFM Investors Pty Ltd now owns 38,862 shares of the business services provider’s stock valued at $2,894,000 after buying an additional 1,423 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.6 %

Shares of NYSE OMC traded up $1.53 during trading hours on Tuesday, hitting $94.72. 1,864,494 shares of the stock were exchanged, compared to its average volume of 1,650,534. The company has a market cap of $18.55 billion, a PE ratio of 12.80, a PEG ratio of 2.18 and a beta of 0.96. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average price of $93.12 and a 200-day moving average price of $87.14.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.81 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Analyst Ratings Changes

A number of research firms recently issued reports on OMC. Moffett Nathanson boosted their price objective on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $110.00 in a research note on Tuesday. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. Macquarie raised their price objective on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price target on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Insider Buying and Selling

In other news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the completion of the transaction, the director now directly owns 9,753 shares in the company, valued at $845,194.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

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.