Varma Mutual Pension Insurance Co Buys Shares of 125,300 Omnicom Group Inc. $OMC

Varma Mutual Pension Insurance Co bought a new stake in Omnicom Group Inc. (NYSE:OMCFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 125,300 shares of the business services provider’s stock, valued at approximately $10,118,000.

Several other institutional investors also recently bought and sold shares of OMC. Activest Wealth Management grew its position in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC grew its position in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 319 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Omnicom Group by 289.4% during the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after buying an additional 272 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of Omnicom Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after buying an additional 202 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

Shares of OMC opened at $77.59 on Wednesday. The stock has a 50 day moving average price of $78.26 and a 200 day moving average price of $76.79. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 198.95, a price-to-earnings-growth ratio of 0.59 and a beta of 0.66. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17.

Omnicom Group (NYSE:OMCGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 earnings per share. Research analysts predict that Omnicom Group Inc. will post 10.91 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is 820.51%.

Omnicom Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMC. UBS Group boosted their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Citigroup lowered their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. 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. Finally, Barclays boosted their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.71.

Check Out Our Latest Report on Omnicom Group

Omnicom Group Company Profile

(Free Report)

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.

See Also

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

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