Lansforsakringar Fondforvaltning AB publ boosted its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 58.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,812 shares of the business services provider’s stock after acquiring an additional 16,586 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Omnicom Group were worth $3,375,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its stake in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of Omnicom Group during the fourth quarter worth approximately $26,000. Legacy Wealth Managment LLC ID raised its stake in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of Omnicom Group during the fourth quarter worth $28,000. 91.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on OMC shares. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. UBS Group lifted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and a consensus target price of $99.00.
Omnicom Group Trading Up 3.2%
Shares of OMC stock opened at $78.55 on Friday. The business’s fifty day moving average price is $74.86 and its 200 day moving average price is $76.74. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The firm has a market capitalization of $22.39 billion, a PE ratio of 201.41, a P/E/G ratio of 0.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.
Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.
About Omnicom Group
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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