Resona Asset Management Co. Ltd. Increases Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Resona Asset Management Co. Ltd. boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,502 shares of the business services provider’s stock after acquiring an additional 2,918 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $5,238,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OMC. Pacer Advisors Inc. raised its position in Omnicom Group by 17,506.1% in the 1st quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider’s stock valued at $227,512,000 after purchasing an additional 2,728,494 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Omnicom Group in the 4th quarter valued at about $150,819,000. Massachusetts Financial Services Co. MA raised its position in shares of Omnicom Group by 20.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock worth $595,147,000 after acquiring an additional 1,205,165 shares in the last quarter. First Trust Advisors LP raised its position in shares of Omnicom Group by 23.8% during the 4th quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider’s stock worth $334,076,000 after acquiring an additional 747,575 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Omnicom Group by 32.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,851,294 shares of the business services provider’s stock worth $236,401,000 after acquiring an additional 704,275 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. cut their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $94.43.

Omnicom Group Trading Up 1.1%

NYSE:OMC opened at $76.26 on Friday. The stock’s 50 day moving average price is $72.84 and its 200 day moving average price is $76.45. The company has a market capitalization of $14.77 billion, a PE ratio of 10.94, a P/E/G ratio of 1.50 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is 40.17%.

Omnicom Group 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.