Prudential PLC Makes New $588,000 Investment in Omnicom Group Inc. $OMC

Prudential PLC bought a new position in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,285 shares of the business services provider’s stock, valued at approximately $588,000.

A number of other hedge funds have also added to or reduced their stakes in OMC. Activest Wealth Management increased its holdings in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID grew its stake in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $32,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Down 0.3%

OMC stock opened at $75.12 on Tuesday. The stock’s fifty day simple moving average is $75.45 and its two-hundred day simple moving average is $76.60. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The stock has a market cap of $21.41 billion, a P/E ratio of 192.62, a P/E/G ratio of 0.45 and a beta of 0.64.

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

Omnicom Group announced that its Board of Directors has initiated a stock buyback 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. Omnicom Group’s payout ratio is presently 820.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OMC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Rothschild & Co Redburn started coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Argus raised Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Citigroup cut their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $99.00.

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.