Rockefeller Capital Management L.P. Lowers Position in Omnicom Group Inc. $OMC

Rockefeller Capital Management L.P. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 42.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,053 shares of the business services provider’s stock after selling 29,336 shares during the period. Rockefeller Capital Management L.P.’s holdings in Omnicom Group were worth $3,154,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Omnicom Group by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after acquiring an additional 869 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Omnicom Group during the second quarter valued at about $241,000. Gabelli Funds LLC purchased a new position in Omnicom Group during the second quarter worth about $1,061,000. Daiwa Securities Group Inc. grew its position in Omnicom Group by 5.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. grew its position in Omnicom Group by 14.1% in the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after purchasing an additional 44,746 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $73.11 on Monday. The stock has a market cap of $20.84 billion, a PE ratio of 187.46, a price-to-earnings-growth ratio of 0.44 and a beta of 0.64. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The stock has a fifty day moving average of $75.11 and a 200-day moving average of $76.80.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.4%. Omnicom Group’s payout ratio is currently 820.51%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. UBS Group lifted their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Morgan Stanley boosted their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.