North Dakota State Investment Board Purchases Shares of 11,002 Omnicom Group Inc. $OMC

North Dakota State Investment Board purchased a new stake in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,002 shares of the business services provider’s stock, valued at approximately $888,000.

Several other large investors have also recently bought and sold shares of OMC. EverSource Wealth Advisors LLC boosted its holdings in Omnicom Group by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 869 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Omnicom Group during the 2nd quarter worth $241,000. Gabelli Funds LLC bought a new stake in shares of Omnicom Group during the 2nd quarter worth $1,061,000. Daiwa Securities Group Inc. lifted its holdings in shares of Omnicom Group by 5.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Omnicom Group by 14.1% during the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after acquiring an additional 44,746 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 0.1%

Shares of NYSE OMC opened at $71.93 on Thursday. The firm’s 50 day moving average price is $76.07 and its 200-day moving average price is $76.49. The company has a market cap of $20.50 billion, a PE ratio of 184.43, a P/E/G ratio of 0.43 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 issued 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 firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group declared that its board has authorized a stock repurchase plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Omnicom Group Dividend Announcement

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 4.4%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is currently 820.51%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OMC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group lifted their target price on shares of 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 target price on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Finally, Morgan Stanley lifted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.71.

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.