BI Asset Management Fondsmaeglerselskab A S Acquires 1,125 Shares of Omnicom Group Inc. $OMC

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 18.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,208 shares of the business services provider’s stock after buying an additional 1,125 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Omnicom Group were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. increased its holdings in shares of Omnicom Group by 83.2% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 15,073 shares of the business services provider’s stock valued at $1,250,000 after acquiring an additional 6,844 shares during the last quarter. Hsbc Holdings PLC boosted its position in Omnicom Group by 37.2% during the first quarter. Hsbc Holdings PLC now owns 1,444,255 shares of the business services provider’s stock worth $118,593,000 after purchasing an additional 391,876 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Omnicom Group by 52.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,380 shares of the business services provider’s stock valued at $529,000 after purchasing an additional 2,185 shares during the last quarter. Financial Advisors Network Inc. grew its holdings in Omnicom Group by 6.1% during the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 159 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Omnicom Group by 361.0% in the first quarter. Quantbot Technologies LP now owns 65,998 shares of the business services provider’s stock valued at $5,472,000 after purchasing an additional 51,682 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Omnicom Group Stock Up 2.6%

OMC stock opened at $79.5280 on Friday. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a market cap of $15.41 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. The business’s 50-day simple moving average is $73.44 and its 200 day simple moving average is $76.07.

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

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. Omnicom Group’s payout ratio is currently 40.17%.

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.