8,189 Shares in Omnicom Group Inc. $OMC Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 8,189 shares of the business services provider’s stock, valued at approximately $596,000.

A number of other institutional investors have also recently added to or reduced their stakes in OMC. Vanguard Group Inc. increased its stake in shares of Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Omnicom Group in the 2nd quarter valued at $2,082,476,000. State Street Corp boosted its holdings in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Omnicom Group during the second quarter worth $914,156,000. Finally, Geode Capital Management LLC increased its holdings in shares of Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after acquiring an additional 3,117,188 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OMC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Wells Fargo & Company increased their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Finally, Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Price Performance

Shares of OMC opened at $88.23 on Wednesday. The firm has a market capitalization of $24.21 billion, a PE ratio of 76.06, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The stock has a 50 day simple moving average of $80.81 and a 200 day simple moving average of $77.86.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.6%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

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.