Omnicom Group Inc. $OMC Stock Position Lifted by Legal & General Group Plc

Legal & General Group Plc grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,410,514 shares of the business services provider’s stock after acquiring an additional 44,014 shares during the period. Legal & General Group Plc’s holdings in Omnicom Group were worth $113,899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Glenview Trust Co raised its stake in Omnicom Group by 1.2% during the 4th quarter. Glenview Trust Co now owns 43,218 shares of the business services provider’s stock valued at $3,490,000 after purchasing an additional 516 shares during the last quarter. New Age Alpha Advisors LLC increased its position in shares of Omnicom Group by 12.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 91,286 shares of the business services provider’s stock worth $7,371,000 after purchasing an additional 10,119 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Omnicom Group by 163.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,300 shares of the business services provider’s stock worth $186,000 after acquiring an additional 1,428 shares during the last quarter. Todd Asset Management LLC bought a new stake in Omnicom Group during the 4th quarter worth about $25,492,000. Finally, Swedbank AB grew its holdings in Omnicom Group by 53.1% during the 4th quarter. Swedbank AB now owns 96,528 shares of the business services provider’s stock worth $7,795,000 after acquiring an additional 33,489 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

NYSE:OMC opened at $74.09 on Friday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $75.55 and a 200 day simple moving average of $76.52. The stock has a market capitalization of $21.12 billion, a PE ratio of 189.98, a P/E/G ratio of 0.45 and a beta of 0.66.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group declared that its board has approved a share 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Omnicom Group Dividend Announcement

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

Analysts Set New Price Targets

OMC has been the topic of several recent research reports. UBS Group raised their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a report on Thursday. They set a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley raised their target price 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. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.13.

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.