New Age Alpha Advisors LLC raised its position in Omnicom Group Inc. (NYSE:OMC – Free Report) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,286 shares of the business services provider’s stock after purchasing an additional 10,119 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Omnicom Group were worth $7,371,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of OMC. Vanguard Group Inc. boosted its holdings in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Omnicom Group in the 3rd quarter valued at about $515,145,000. Bank of New York Mellon Corp boosted its holdings in Omnicom Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares during the last quarter. State Street Corp lifted its holdings in shares of Omnicom Group by 15.8% in the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock worth $660,969,000 after acquiring an additional 1,893,316 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on OMC shares. UBS Group upped their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. 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 report on Friday, May 1st. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $93.71.
Omnicom Group Stock Performance
Shares of OMC stock opened at $74.95 on Monday. The firm’s 50 day moving average price is $75.83 and its 200-day moving average price is $76.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The firm has a market cap of $21.36 billion, a P/E ratio of 192.19, a P/E/G ratio of 0.45 and a beta of 0.66.
Omnicom Group (NYSE:OMC – Get Free Report) last released its 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. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 EPS. As a group, equities research analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current 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. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. Omnicom Group’s dividend payout ratio is 820.51%.
Omnicom Group announced that its board has initiated a share buyback program on Wednesday, February 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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