Bank of New York Mellon Corp Has $577.73 Million Stock Position in Omnicom Group Inc. (NYSE:OMC)

Bank of New York Mellon Corp grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,714,693 shares of the business services provider’s stock after purchasing an additional 156,438 shares during the quarter. Bank of New York Mellon Corp’s holdings in Omnicom Group were worth $577,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. ST Germain D J Co. Inc. acquired a new position in Omnicom Group during the fourth quarter worth $25,000. Versant Capital Management Inc boosted its stake in shares of Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after acquiring an additional 271 shares in the last quarter. Venturi Wealth Management LLC increased its holdings 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 valued at $28,000 after acquiring an additional 195 shares during the last quarter. HM Payson & Co. raised its stake in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Omnicom Group by 742.4% in the 4th quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock worth $48,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OMC. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Barclays dropped their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. One 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Omnicom Group Stock Performance

NYSE OMC opened at $83.84 on Wednesday. The company’s fifty day moving average is $85.19 and its two-hundred day moving average is $95.08. Omnicom Group Inc. has a 52-week low of $80.31 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.94 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share 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 period in the previous year, the firm earned $2.20 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s payout ratio is presently 37.58%.

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.