Danica Pension Livsforsikringsaktieselskab purchased a new stake in Omnicom Group Inc. (NYSE:OMC – Free Report) during the first quarter, Holdings Channel.com reports. The firm purchased 116,077 shares of the business services provider’s stock, valued at approximately $8,742,000.
Several other large investors have also recently made changes to their positions in OMC. Wealth Enhancement Advisory Services LLC grew its position in shares of Omnicom Group by 155.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,116 shares of the business services provider’s stock worth $7,265,000 after buying an additional 55,421 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Omnicom Group by 34.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 524,037 shares of the business services provider’s stock worth $42,316,000 after acquiring an additional 133,093 shares in the last quarter. LBP AM SA lifted its position in Omnicom Group by 24.2% during the fourth quarter. LBP AM SA now owns 149,672 shares of the business services provider’s stock valued at $12,086,000 after acquiring an additional 29,195 shares during the last quarter. Disciplined Equity Management Inc. purchased a new stake in Omnicom Group during the fourth quarter valued at approximately $1,343,000. Finally, Czech National Bank boosted its stake in Omnicom Group by 71.0% in the fourth quarter. Czech National Bank now owns 84,111 shares of the business services provider’s stock valued at $6,792,000 after acquiring an additional 34,909 shares in the last quarter. 91.97% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Morgan Stanley raised 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. Citigroup dropped their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.38.
Omnicom Group Stock Up 0.3%
OMC stock opened at $79.41 on Thursday. The stock has a market capitalization of $22.63 billion, a PE ratio of 203.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.63. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. 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 firm has a 50 day moving average of $76.10 and a 200 day moving average of $76.77.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the company posted $1.70 earnings per share. The business’s quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.
Omnicom Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.
Omnicom Group 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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