OP Asset Management Ltd Makes New $2.49 Million Investment in Omnicom Group Inc. $OMC

OP Asset Management Ltd bought a new position in Omnicom Group Inc. (NYSE:OMC) in the 1st quarter, Holdings Channel.com reports. The firm bought 33,108 shares of the business services provider’s stock, valued at approximately $2,493,000.

Other large investors have also modified their holdings of the company. Banque Cantonale Vaudoise raised its holdings in shares of Omnicom Group by 79.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 15,168 shares of the business services provider’s stock valued at $1,142,000 after buying an additional 6,718 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Omnicom Group by 1.2% in the 1st quarter. Miller Howard Investments Inc. NY now owns 581,969 shares of the business services provider’s stock worth $43,828,000 after acquiring an additional 6,813 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in Omnicom Group by 5.6% in the 1st quarter. Centennial Wealth Advisory LLC now owns 9,249 shares of the business services provider’s stock worth $697,000 after acquiring an additional 491 shares during the period. Cidel Asset Management Inc. grew its position in Omnicom Group by 10.9% in the first quarter. Cidel Asset Management Inc. now owns 4,160 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 408 shares in the last quarter. Finally, Community Bank & Trust Waco Texas purchased a new stake in shares of Omnicom Group during the first quarter valued at approximately $343,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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. The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Citigroup dropped their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Down 0.4%

NYSE:OMC opened at $73.11 on Friday. The company has a market capitalization of $20.84 billion, a price-to-earnings ratio of 187.46, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The stock has a 50-day simple moving average of $75.11 and a 200 day simple moving average of $76.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

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

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

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.