Global Retirement Partners LLC Has $2.36 Million Stock Position in Omnicom Group Inc. $OMC

Global Retirement Partners LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 69.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,251 shares of the business services provider’s stock after acquiring an additional 12,028 shares during the quarter. Global Retirement Partners LLC’s holdings in Omnicom Group were worth $2,362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. Vanguard Group Inc. increased its position in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after acquiring an additional 15,220,444 shares during the period. First Eagle Investment Management LLC acquired a new position in Omnicom Group in the 3rd quarter valued at approximately $515,145,000. Bank of New York Mellon Corp increased its position 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 buying an additional 2,820,553 shares during the period. State Street Corp increased its position 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 buying an additional 2,298,652 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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 buying an additional 1,893,316 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OMC. Morgan Stanley increased their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. UBS Group increased their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Barclays increased their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $93.71.

Omnicom Group Stock Up 1.6%

Shares of NYSE OMC opened at $74.95 on Friday. The firm 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. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company’s fifty day simple moving average is $75.83 and its 200 day simple moving average is $76.47. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) 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 analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. Omnicom Group’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.3%. Omnicom Group’s dividend payout ratio is currently 820.51%.

Omnicom Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.