First Horizon Advisors Inc. Decreases Holdings in Omnicom Group Inc. (NYSE:OMC)

First Horizon Advisors Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,437 shares of the business services provider’s stock after selling 1,500 shares during the quarter. Omnicom Group makes up 1.0% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. First Horizon Advisors Inc.’s holdings in Omnicom Group were worth $29,538,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Omnicom Group in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC purchased a new stake in Omnicom Group in the 4th quarter worth about $26,000. Pinnacle Bancorp Inc. increased its holdings in Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in Omnicom Group in the 3rd quarter worth about $38,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Omnicom Group by 116.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the business services provider’s stock worth $52,000 after acquiring an additional 323 shares during 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 traded down $0.29 during trading hours on Thursday, reaching $93.36. 417,660 shares of the stock traded hands, compared to its average volume of 1,638,934. The company has a market capitalization of $18.28 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company’s 50-day simple moving average is $92.76 and its two-hundred day simple moving average is $86.55.

Omnicom Group (NYSE:OMC) last posted its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 7.81 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Insider Activity

In other news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the transaction, the director now directly owns 9,753 shares of the company’s stock, valued at $845,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the subject of several analyst reports. BNP Paribas upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Thursday, March 28th. Moffett Nathanson raised their target price on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays raised their target price on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, Macquarie raised their target price on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $103.40.

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.