Resona Asset Management Co. Ltd. Buys New Stake in Omnicom Group Inc. (NYSE:OMC)

Resona Asset Management Co. Ltd. bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, HoldingsChannel.com reports. The firm bought 60,584 shares of the business services provider’s stock, valued at approximately $5,216,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC boosted its stake in Omnicom Group by 209.7% during the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock valued at $2,720,000 after purchasing an additional 17,815 shares during the period. Franklin Resources Inc. boosted its position in shares of Omnicom Group by 19.7% in the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock valued at $23,860,000 after acquiring an additional 38,022 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Omnicom Group by 15.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 376,701 shares of the business services provider’s stock worth $32,411,000 after acquiring an additional 50,153 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Omnicom Group in the third quarter worth $21,191,000. Finally, Avanza Fonder AB bought a new position in Omnicom Group during the fourth quarter worth $1,544,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OMC. Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company lowered their price target on 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. UBS Group reduced their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.43.

Omnicom Group Price Performance

Omnicom Group stock opened at $70.29 on Wednesday. The business has a 50 day simple moving average of $81.41 and a 200 day simple moving average of $91.02. 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 company has a market capitalization of $13.82 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a one year low of $69.58 and a one year high of $107.00.

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

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s payout ratio is 37.58%.

Omnicom Group Company Profile

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.