Sound Income Strategies LLC Sells 9,695 Shares of Omnicom Group Inc. (NYSE:OMC)

Sound Income Strategies LLC lessened its position in Omnicom Group Inc. (NYSE:OMC) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,084 shares of the business services provider’s stock after selling 9,695 shares during the period. Omnicom Group comprises 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 25th largest holding. Sound Income Strategies LLC owned about 0.12% of Omnicom Group worth $19,452,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC boosted its stake in Omnicom Group by 209.7% during the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock valued at $2,720,000 after purchasing an additional 17,815 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 401 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Omnicom Group during the third quarter valued at $713,000. Thrivent Financial for Lutherans increased its holdings in Omnicom Group by 40.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after buying an additional 8,643 shares in the last quarter. Finally, Assetmark Inc. raised its position in Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after buying an additional 9,774 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Omnicom Group Price Performance

NYSE OMC opened at $86.21 on Friday. The business’s fifty day moving average is $92.23 and its 200 day moving average is $96.46. Omnicom Group Inc. has a fifty-two week low of $81.42 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $16.82 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.25%.

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.