Integrated Wealth Concepts LLC Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Integrated Wealth Concepts LLC decreased its position in Omnicom Group Inc. (NYSE:OMC) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,208 shares of the business services provider’s stock after selling 423 shares during the period. Integrated Wealth Concepts LLC’s holdings in Omnicom Group were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Omnicom Group in the second quarter valued at about $56,177,000. Dimensional Fund Advisors LP lifted its stake in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after purchasing an additional 364,665 shares during the period. Conning Inc. acquired a new stake in shares of Omnicom Group in the second quarter valued at about $32,484,000. Finally, Millennium Management LLC lifted its stake in shares of Omnicom Group by 73.0% in the second quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after purchasing an additional 324,196 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. UBS Group lifted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.89.

Omnicom Group Stock Performance

NYSE:OMC opened at $92.46 on Wednesday. The firm has a 50 day simple moving average of $102.43 and a 200-day simple moving average of $97.34. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market cap of $18.04 billion, a PE ratio of 12.63, a P/E/G ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a 1-year low of $82.26 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the business posted $1.86 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s dividend payout ratio is presently 38.25%.

Omnicom Group 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.