Bank of New York Mellon Corp Acquires 814,328 Shares of Omnicom Group Inc. $OMC

Bank of New York Mellon Corp boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 7.2% during the first quarter, Holdings Channel.com reports. The firm owned 12,098,191 shares of the business services provider’s stock after acquiring an additional 814,328 shares during the quarter. Bank of New York Mellon Corp’s holdings in Omnicom Group were worth $911,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of 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 worth $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Omnicom Group during the 2nd quarter valued at about $241,000. Gabelli Funds LLC purchased a new position in Omnicom Group in the second quarter worth about $1,061,000. Daiwa Securities Group Inc. raised its holdings in Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after buying an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after buying an additional 44,746 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the subject of several analyst reports. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $99.38.

Omnicom Group Stock Up 0.3%

OMC opened at $81.03 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $75.55 and a 200-day moving average price of $76.75. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 207.78, a PEG ratio of 0.48 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

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.