Millennium Management LLC lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 90.6% in the fourth quarter, Holdings Channel reports. The fund owned 26,450 shares of the business services provider’s stock after selling 255,650 shares during the quarter. Millennium Management LLC’s holdings in Omnicom Group were worth $1,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. NuWave Investment Management LLC raised its position in Omnicom Group by 1,876.5% during the fourth quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock worth $25,000 after acquiring an additional 319 shares during the last quarter. Sontag Advisory LLC acquired a new position in Omnicom Group during the fourth quarter worth about $28,000. Eukles Asset Management acquired a new position in Omnicom Group during the fourth quarter worth about $29,000. Capital Financial Planning LLC acquired a new position in Omnicom Group during the fourth quarter worth about $30,000. Finally, JOYN Advisors Inc. raised its position in Omnicom Group by 47.2% during the fourth quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the last quarter.

In other news, CEO Jonathan B. Nelson sold 4,916 shares of Omnicom Group stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $84.22, for a total transaction of $414,025.52. Following the completion of the sale, the chief executive officer now directly owns 83,858 shares in the company, valued at $7,062,520.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 497 shares of Omnicom Group stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $83.59, for a total transaction of $41,544.23. Following the sale, the director now owns 8,161 shares of the company’s stock, valued at $682,177.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,464 shares of company stock valued at $684,930. Insiders own 1.20% of the company’s stock.

A number of equities analysts have issued reports on OMC shares. BMO Capital Markets cut their target price on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, February 13th. Macquarie set a $76.00 target price on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Thursday, February 14th. Citigroup lifted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $76.00 to $84.00 in a research report on Wednesday, April 17th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $76.90.

Shares of NYSE OMC opened at $79.96 on Thursday. The stock has a market cap of $17.73 billion, a PE ratio of 13.91, a PEG ratio of 2.90 and a beta of 0.68. Omnicom Group Inc. has a 12 month low of $65.85 and a 12 month high of $84.35. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.89.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, research analysts predict that Omnicom Group Inc. will post 5.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Monday, March 11th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Omnicom Group’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.25%. Omnicom Group’s payout ratio is 45.22%.

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Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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