Mitsubishi UFJ Asset Management Co. Ltd. Takes $50.12 Million Position in Omnicom Group Inc. $OMC

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Omnicom Group Inc. (NYSE:OMC) in the second quarter, HoldingsChannel reports. The fund bought 688,186 shares of the business services provider’s stock, valued at approximately $50,122,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC acquired a new stake in Omnicom Group in the second quarter valued at approximately $609,000. Plato Investment Management Ltd purchased a new position in shares of Omnicom Group in the second quarter valued at $827,000. AMG National Trust Bank acquired a new stake in Omnicom Group during the 2nd quarter valued at $225,000. Compass Capital Management Inc. purchased a new stake in Omnicom Group during the 2nd quarter worth $787,000. Finally, Trivium Point Advisory LLC acquired a new position in Omnicom Group in the 2nd quarter worth $453,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OMC shares. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Up 1.2%

NYSE:OMC opened at $87.38 on Thursday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $88.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The business has a 50 day simple moving average of $79.89 and a 200 day simple moving average of $77.43. The firm has a market capitalization of $23.97 billion, a P/E ratio of 75.33, a P/E/G ratio of 0.57 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last posted 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). The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is 275.86%.

Omnicom Group 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.