Webster Bank N. A. Lowers Stock Position in Omnicom Group Inc. (NYSE:OMC)

Webster Bank N. A. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 18.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,823 shares of the business services provider’s stock after selling 418 shares during the quarter. Webster Bank N. A.’s holdings in Omnicom Group were worth $157,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Omnicom Group during the 2nd quarter worth $1,606,000. Public Sector Pension Investment Board boosted its position in Omnicom Group by 70.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,622 shares of the business services provider’s stock worth $684,000 after purchasing an additional 3,159 shares during the period. Squarepoint Ops LLC boosted its position in Omnicom Group by 652.8% during the 2nd quarter. Squarepoint Ops LLC now owns 40,420 shares of the business services provider’s stock worth $3,626,000 after purchasing an additional 35,051 shares during the period. APG Asset Management N.V. boosted its position in Omnicom Group by 207.3% during the 2nd quarter. APG Asset Management N.V. now owns 21,643 shares of the business services provider’s stock worth $1,811,000 after purchasing an additional 14,600 shares during the period. Finally, MBB Public Markets I LLC boosted its position in Omnicom Group by 540.2% during the 2nd quarter. MBB Public Markets I LLC now owns 15,671 shares of the business services provider’s stock worth $1,406,000 after purchasing an additional 13,223 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upped their price target 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. Wells Fargo & Company decreased their price target 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, December 10th. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday. Barclays cut their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $88.33 on Tuesday. The firm has a market cap of $17.23 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The firm’s 50-day simple moving average is $91.65 and its 200-day simple moving average is $96.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. Omnicom Group Inc. has a 1 year low of $81.42 and a 1 year high of $107.00.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. 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.