Danske Bank A S bought a new stake in Omnicom Group Inc. (NYSE:OMC – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 344,035 shares of the business services provider’s stock, valued at approximately $25,056,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its position 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 purchasing an additional 35,247 shares in the last quarter. Generali Asset Management SPA SGR lifted its holdings in 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 valued at $1,662,000 after purchasing an additional 15,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Omnicom Group by 70.0% in the fourth 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. New York State Teachers Retirement System boosted its position in Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock valued at $20,282,000 after buying an additional 103,615 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its stake in Omnicom Group by 901.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 481,765 shares of the business services provider’s stock worth $38,903,000 after buying an additional 433,654 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.
Omnicom Group Stock Up 1.2%
NYSE OMC opened at $87.38 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $88.55. The stock has a market capitalization of $23.97 billion, a P/E ratio of 75.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64. The stock has a fifty day moving average of $79.89 and a 200-day moving average of $77.43.
Omnicom Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. Omnicom Group’s dividend payout ratio is presently 275.86%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on OMC. Citigroup dropped their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Wells Fargo & Company increased their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Finally, Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Omnicom Group presently has an average rating of “Hold” and an average target price of $99.00.
View Our Latest Research Report on OMC
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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