First Trust Advisors LP Has $56.81 Million Stock Holdings in Omnicom Group Inc. $OMC

First Trust Advisors LP decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 696,812 shares of the business services provider’s stock after selling 89,172 shares during the period. First Trust Advisors LP owned 0.36% of Omnicom Group worth $56,811,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. First Eagle Investment Management LLC bought a new position in Omnicom Group during the third quarter worth about $515,145,000. JPMorgan Chase & Co. boosted its holdings in Omnicom Group by 117.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after purchasing an additional 3,362,411 shares during the period. Bank of New York Mellon Corp grew its position in shares of Omnicom Group by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after purchasing an additional 2,820,553 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Omnicom Group by 38.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Omnicom Group during the second quarter worth approximately $67,048,000. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMC. Morgan Stanley assumed coverage on Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Bank of America reaffirmed an “underperform” rating and issued a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Barclays upped their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Citigroup increased their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $80.80 on Wednesday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 164.89, a price-to-earnings-growth ratio of 0.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The company’s 50 day simple moving average is $77.91 and its 200 day simple moving average is $77.11.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s dividend payout ratio is currently 653.06%.

Omnicom Group declared that its board has approved a share repurchase program on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Omnicom Group Company 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.