Omnicom Group Inc. $OMC Shares Bought by DNB Asset Management AS

DNB Asset Management AS raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 479.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,772 shares of the business services provider’s stock after acquiring an additional 176,894 shares during the period. DNB Asset Management AS’s holdings in Omnicom Group were worth $17,262,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OMC. Vanguard Group Inc. raised its holdings in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after acquiring an additional 15,220,444 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in Omnicom Group in the 3rd quarter valued at about $515,145,000. Bank of New York Mellon Corp raised its holdings in Omnicom Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after acquiring an additional 2,820,553 shares during the last quarter. State Street Corp raised its holdings in Omnicom Group by 15.8% in the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after acquiring an additional 2,298,652 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after acquiring an additional 1,893,316 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC stock opened at $70.89 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The stock has a market capitalization of $20.20 billion, a PE ratio of 181.78, a P/E/G ratio of 0.42 and a beta of 0.66. The firm has a 50 day moving average of $76.81 and a two-hundred day moving average of $76.58.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company earned $1.70 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Omnicom Group declared that its board has approved a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OMC. UBS Group raised their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Morgan Stanley raised their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Barclays raised their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Finally, Citigroup cut their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $93.71.

Omnicom Group Company 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.