Lazard Asset Management LLC Sells 457,445 Shares of Omnicom Group Inc. $OMC

by · The Markets Daily

Lazard Asset Management LLC trimmed its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 23.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,481,974 shares of the business services provider’s stock after selling 457,445 shares during the period. Lazard Asset Management LLC’s holdings in Omnicom Group were worth $111,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after buying an additional 15,220,444 shares during the last quarter. State Street Corp grew its position in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp grew its position in Omnicom Group by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 12,098,191 shares of the business services provider’s stock worth $911,115,000 after buying an additional 814,328 shares in the last quarter. Geode Capital Management LLC increased its stake in Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after acquiring an additional 3,117,188 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Omnicom Group by 5.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock valued at $635,538,000 after acquiring an additional 433,461 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 3.5%

Shares of Omnicom Group stock opened at $82.47 on Tuesday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The stock has a market capitalization of $23.51 billion, a P/E ratio of 211.48, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. The company has a 50-day simple moving average of $76.59 and a 200 day simple moving average of $76.78. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 earnings per share. Research analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 820.51%.

Analysts Set New Price Targets

A number of analysts have commented on OMC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Citigroup decreased their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective on the stock. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.38.

View Our Latest Stock Analysis on OMC

Omnicom Group Company Profile

(Free Report)

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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