KLP Kapitalforvaltning AS Invests $9.84 Million in Omnicom Group Inc. (NYSE:OMC)

KLP Kapitalforvaltning AS bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 113,588 shares of the business services provider’s stock, valued at approximately $9,842,000. KLP Kapitalforvaltning AS owned approximately 0.06% of Omnicom Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. Thrivent Financial for Lutherans boosted its position in shares of Omnicom Group by 40.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock valued at $3,077,000 after acquiring an additional 8,643 shares in the last quarter. Pathstone Holdings LLC grew its position in Omnicom Group by 2.4% in the third quarter. Pathstone Holdings LLC now owns 35,400 shares of the business services provider’s stock valued at $3,662,000 after acquiring an additional 835 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Omnicom Group during the third quarter valued at $500,000. Citigroup Inc. boosted its stake in shares of Omnicom Group by 33.9% in the 3rd quarter. Citigroup Inc. now owns 283,156 shares of the business services provider’s stock valued at $29,275,000 after purchasing an additional 71,681 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of Omnicom Group by 5.7% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 5,161 shares of the business services provider’s stock worth $533,000 after purchasing an additional 280 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Down 2.1 %

OMC stock opened at $79.45 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a market capitalization of $15.61 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.94 and a beta of 0.98. Omnicom Group Inc. has a fifty-two week low of $78.69 and a fifty-two week high of $107.00. The business has a 50-day moving average of $83.62 and a 200-day moving average of $92.94.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.52%. Omnicom Group’s dividend payout ratio is 37.58%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Macquarie reiterated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Barclays lowered their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Finally, Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.