Meritage Portfolio Management Lowers Holdings in Omnicom Group Inc. (NYSE:OMC)

Meritage Portfolio Management trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,675 shares of the business services provider’s stock after selling 1,927 shares during the quarter. Meritage Portfolio Management’s holdings in Omnicom Group were worth $2,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. ST Germain D J Co. Inc. bought a new position in Omnicom Group in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc lifted 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 valued at $27,000 after buying an additional 271 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 3rd quarter worth about $33,000. HM Payson & Co. lifted its holdings 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 during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Omnicom Group in the 3rd quarter valued at about $55,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 2.2 %

Shares of OMC opened at $85.00 on Thursday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.89 and a beta of 0.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. Omnicom Group Inc. has a 1-year low of $81.42 and a 1-year high of $107.00. The company has a 50-day moving average of $89.67 and a 200 day moving average of $96.17.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the business earned $2.20 earnings per share. On average, research analysts expect that Omnicom Group Inc. will post 7.99 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 3.29%. Omnicom Group’s dividend payout ratio is currently 38.25%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OMC shares. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Barclays decreased their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on shares of 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 given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.25.

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.