Orca Investment Management LLC purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,777 shares of the business services provider’s stock, valued at approximately $2,023,000. Omnicom Group makes up about 1.5% of Orca Investment Management LLC’s holdings, making the stock its 23rd largest holding.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Berger Financial Group Inc acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $5,564,000. Resona Asset Management Co. Ltd. raised its stake in shares of Omnicom Group by 55.4% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after buying an additional 35,247 shares during the period. Generali Asset Management SPA SGR raised its stake in shares of Omnicom Group by 346.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock worth $1,662,000 after buying an additional 15,966 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Omnicom Group by 70.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock valued at $54,815,000 after buying an additional 277,665 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Omnicom Group by 6,819.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 214,222 shares of the business services provider’s stock valued at $17,298,000 after buying an additional 211,126 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.
Omnicom Group Stock Performance
Shares of NYSE:OMC opened at $87.45 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The business’s 50 day moving average price is $79.20 and its 200-day moving average price is $77.24. The firm has a market capitalization of $23.99 billion, a PE ratio of 75.39, a P/E/G ratio of 0.58 and a beta of 0.64. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $88.55.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. Omnicom Group’s dividend payout ratio is presently 275.86%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research downgraded shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Morgan Stanley lifted their target price 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. Finally, Wells Fargo & Company boosted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $99.00.
Read Our Latest Stock Report on OMC
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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