Ieq Capital LLC Buys Shares of 23,257 Omnicom Group Inc. $OMC

Ieq Capital LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, HoldingsChannel.com reports. The firm purchased 23,257 shares of the business services provider’s stock, valued at approximately $1,694,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OMC. Resona Asset Management Co. Ltd. grew its holdings in Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock valued at $7,976,000 after purchasing an additional 35,247 shares during the period. Generali Asset Management SPA SGR raised its holdings in Omnicom Group by 346.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock worth $1,662,000 after purchasing an additional 15,966 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Omnicom Group by 70.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock worth $54,815,000 after purchasing an additional 277,665 shares in the last quarter. Orca Investment Management LLC bought a new position in shares of Omnicom Group during the second quarter worth $2,023,000. Finally, New York State Teachers Retirement System grew its holdings in shares of Omnicom Group by 70.2% in the 4th quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock valued at $20,282,000 after buying an additional 103,615 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target for the company. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citigroup cut their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Down 0.8%

OMC opened at $88.23 on Wednesday. The stock has a market capitalization of $24.21 billion, a P/E ratio of 76.06, a P/E/G ratio of 0.59 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The firm’s fifty day simple moving average is $80.81 and its 200 day simple moving average is $77.86.

Omnicom Group (NYSE:OMC) last released its earnings results 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 last year, the company posted $2.05 EPS. Omnicom Group’s revenue for the quarter was up 63.4% on a year-over-year basis. As a group, research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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

About Omnicom Group

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.