Meiji Yasuda Asset Management Co Ltd. Sells 12,420 Shares of Omnicom Group Inc. $OMC

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 65.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,675 shares of the business services provider’s stock after selling 12,420 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Omnicom Group were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OMC. Oppenheimer Asset Management Inc. raised its position in Omnicom Group by 15.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock valued at $8,831,000 after purchasing an additional 14,368 shares during the last quarter. Principal Financial Group Inc. raised its position in Omnicom Group by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock valued at $153,068,000 after purchasing an additional 295,379 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Omnicom Group in the 3rd quarter valued at $870,000. AustralianSuper Pty Ltd raised its position in Omnicom Group by 24.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock valued at $10,579,000 after purchasing an additional 25,317 shares during the last quarter. Finally, National Pension Service raised its position in Omnicom Group by 35.3% in the 3rd quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock valued at $9,063,000 after purchasing an additional 29,014 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.6%

NYSE OMC opened at $74.95 on Friday. The stock has a fifty day moving average of $75.83 and a 200-day moving average of $76.47. The stock has a market capitalization of $21.36 billion, a P/E ratio of 192.19, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. 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 (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group announced that its Board of Directors has approved a share repurchase 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 repurchase up to 38.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup cut their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays lifted their price objective 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. 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. UBS Group lifted their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Argus raised Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.71.

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.