Latitude Advisors LLC Sells 325 Shares of Omnicom Group Inc. (NYSE:OMC)

Latitude Advisors LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,629 shares of the business services provider’s stock after selling 325 shares during the period. Latitude Advisors LLC’s holdings in Omnicom Group were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in OMC. Pathstone Family Office LLC grew its stake in shares of Omnicom Group by 0.8% in the 4th quarter. Pathstone Family Office LLC now owns 13,144 shares of the business services provider’s stock valued at $1,084,000 after buying an additional 108 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Omnicom Group by 11.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,229 shares of the business services provider’s stock worth $117,000 after acquiring an additional 128 shares in the last quarter. Czech National Bank lifted its position in shares of Omnicom Group by 0.4% during the fourth quarter. Czech National Bank now owns 34,666 shares of the business services provider’s stock worth $2,999,000 after acquiring an additional 134 shares in the last quarter. Finally, Arlington Partners LLC increased its holdings in shares of Omnicom Group by 6.5% in the third quarter. Arlington Partners LLC now owns 2,232 shares of the business services provider’s stock worth $166,000 after purchasing an additional 136 shares during the period. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday. Macquarie increased their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Moffett Nathanson raised their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays lifted their target price on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.40.

Insiders Place Their Bets

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

Omnicom Group Price Performance

Shares of OMC opened at $92.45 on Thursday. The company has a market capitalization of $18.23 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $91.25 and a 200 day moving average of $85.14. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $99.23.

Omnicom Group (NYSE:OMC) last posted its earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.83%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.73 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 Thursday, May 9th. Shareholders of record on Monday, March 11th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

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.