Hennessy Advisors Inc. Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Hennessy Advisors Inc. decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,000 shares of the business services provider’s stock after selling 1,700 shares during the period. Hennessy Advisors Inc.’s holdings in Omnicom Group were worth $2,409,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. World Investment Advisors LLC boosted its holdings in Omnicom Group by 209.7% during the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after acquiring an additional 17,815 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after purchasing an additional 401 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Omnicom Group in the 3rd quarter worth about $713,000. Assetmark Inc. increased its stake in Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock valued at $50,562,000 after buying an additional 9,774 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Omnicom Group by 40.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after buying an additional 8,643 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC opened at $85.41 on Friday. The firm has a 50-day moving average price of $93.30 and a 200-day moving average price of $96.52. Omnicom Group Inc. has a twelve month low of $81.42 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.73 and a beta of 0.98.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 yield of 3.28%. Omnicom Group’s dividend payout ratio is 38.25%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays increased their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $110.00.

Omnicom Group Company 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.