Resona Asset Management Co. Ltd. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 55.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 98,842 shares of the business services provider’s stock after acquiring an additional 35,247 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $7,976,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in Omnicom Group by 4.1% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 147 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Omnicom Group by 7.9% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,031 shares of the business services provider’s stock valued at $166,000 after purchasing an additional 149 shares during the last quarter. Wakefield Asset Management LLLP lifted its holdings in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 149 shares during the last quarter. Impact Partnership Wealth LLC lifted its holdings in Omnicom Group by 3.1% during the 3rd quarter. Impact Partnership Wealth LLC now owns 4,923 shares of the business services provider’s stock valued at $401,000 after purchasing an additional 150 shares during the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in Omnicom Group by 27.0% during the 4th quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 162 shares during the last quarter. 91.97% of the stock is owned by institutional investors.
Omnicom Group Stock Up 2.7%
Shares of NYSE:OMC opened at $73.79 on Friday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a 50 day moving average of $75.93 and a 200-day moving average of $76.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 189.22, a P/E/G ratio of 0.43 and a beta of 0.66.
Omnicom Group declared that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Omnicom Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.3%. Omnicom Group’s dividend payout ratio is presently 820.51%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on OMC shares. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley raised their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.71.
View Our Latest Stock Report on OMC
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.
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