New Age Alpha Advisors LLC Raises Stock Holdings in Omnicom Group Inc. $OMC

New Age Alpha Advisors LLC boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,286 shares of the business services provider’s stock after purchasing an additional 10,119 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Omnicom Group were worth $7,371,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OMC. Vanguard Group Inc. increased its stake in shares of Omnicom Group by 64.2% during the fourth 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 in the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Omnicom Group during the third quarter worth about $515,145,000. Bank of New York Mellon Corp increased its stake in shares of Omnicom Group by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after purchasing an additional 2,820,553 shares in the last quarter. State Street Corp increased its stake in shares of Omnicom Group by 15.8% during the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after purchasing an additional 2,298,652 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Omnicom Group by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock worth $660,969,000 after purchasing an additional 1,893,316 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.0%

Shares of NYSE OMC opened at $74.95 on Monday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The stock has a market cap of $21.36 billion, a PE ratio of 192.19, a P/E/G ratio of 0.45 and a beta of 0.66. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $75.83 and a 200 day moving average of $76.49.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $1.70 EPS. Omnicom Group’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed 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 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is currently 820.51%.

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

Analyst Ratings Changes

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

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.