Omnicom Group Inc. $OMC Stock Position Lifted by Parvin Asset Management LLC

Parvin Asset Management LLC boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 158.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,034 shares of the business services provider’s stock after purchasing an additional 7,984 shares during the period. Parvin Asset Management LLC’s holdings in Omnicom Group were worth $1,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. EverSource Wealth Advisors LLC grew its position in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 869 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Omnicom Group in the second quarter worth approximately $241,000. Gabelli Funds LLC bought a new stake in Omnicom Group in the second quarter worth approximately $1,061,000. Daiwa Securities Group Inc. grew its position in Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. grew its position in Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after acquiring an additional 44,746 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

NYSE OMC opened at $77.26 on Wednesday. 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 fifty day simple moving average of $75.58 and a 200 day simple moving average of $76.73. The company has a market cap of $22.02 billion, a P/E ratio of 198.10, a P/E/G ratio of 0.46 and a beta of 0.63. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. Omnicom Group’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. On average, sell-side analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is currently 820.51%.

Omnicom Group announced that its board has initiated a stock buyback program on Wednesday, February 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on OMC shares. 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 report on Monday, February 23rd. 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 report on Friday, May 1st. 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 report on Friday, March 20th. Citigroup decreased 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 report on Thursday, April 30th. Finally, The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Company 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.