RWC Asset Management LLP grew its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 48.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 557,401 shares of the business services provider’s stock after buying an additional 180,794 shares during the quarter. Omnicom Group comprises approximately 2.2% of RWC Asset Management LLP’s portfolio, making the stock its 9th largest holding. RWC Asset Management LLP’s holdings in Omnicom Group were worth $45,010,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Syon Capital LLC increased its stake in shares of Omnicom Group by 56.2% in the fourth quarter. Syon Capital LLC now owns 5,949 shares of the business services provider’s stock valued at $480,000 after buying an additional 2,141 shares in the last quarter. ING Groep NV acquired a new stake in Omnicom Group in the fourth quarter worth about $23,144,000. Capital Research Global Investors increased its position in Omnicom Group by 60.1% in the fourth quarter. Capital Research Global Investors now owns 4,691,101 shares of the business services provider’s stock worth $378,806,000 after purchasing an additional 1,760,469 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Omnicom Group in the fourth quarter worth about $68,000. Finally, XML Financial LLC increased its position in Omnicom Group by 23.1% in the fourth quarter. XML Financial LLC now owns 6,336 shares of the business services provider’s stock worth $512,000 after purchasing an additional 1,188 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently commented on OMC shares. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. UBS Group lifted their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays lifted their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Morgan Stanley lifted 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. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $99.00.
Omnicom Group Price Performance
Omnicom Group stock opened at $75.28 on Monday. The firm has a market capitalization of $21.46 billion, a P/E ratio of 193.03, a PEG ratio of 0.45 and a beta of 0.64. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The business has a 50-day moving average of $75.45 and a 200-day moving average of $76.59. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.
Omnicom Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.
Omnicom Group declared that its board has initiated a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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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