Global X Management Co. LLC Has $446,000 Holdings in Omnicom Group Inc. (OMC)
Global X Management Co. LLC raised its stake in Omnicom Group Inc. (NYSE:OMC) by 422.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,128 shares of the business services provider’s stock after acquiring an additional 4,955 shares during the period. Global X Management Co. LLC’s holdings in Omnicom Group were worth $446,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Olstein Capital Management L.P. boosted its position in shares of Omnicom Group by 108.8% during the 4th quarter. Olstein Capital Management L.P. now owns 102,300 shares of the business services provider’s stock valued at $7,451,000 after purchasing an additional 53,300 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Omnicom Group by 10.3% during the 4th quarter. Toronto Dominion Bank now owns 131,371 shares of the business services provider’s stock valued at $9,569,000 after purchasing an additional 12,276 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Omnicom Group by 14.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 256,058 shares of the business services provider’s stock valued at $18,649,000 after purchasing an additional 31,568 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Omnicom Group by 42.5% during the 4th quarter. First Trust Advisors LP now owns 651,209 shares of the business services provider’s stock valued at $47,428,000 after purchasing an additional 194,106 shares in the last quarter. Finally, CNA Financial Corp boosted its position in shares of Omnicom Group by 6.3% during the 4th quarter. CNA Financial Corp now owns 41,190 shares of the business services provider’s stock valued at $3,000,000 after purchasing an additional 2,429 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.
OMC has been the topic of several research analyst reports. Wells Fargo & Co restated a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research report on Friday, February 16th. TheStreet lowered Omnicom Group from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. BMO Capital Markets upgraded Omnicom Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research report on Friday, February 16th. They noted that the move was a valuation call. Royal Bank of Canada lowered Omnicom Group from an “outperform” rating to a “sector perform” rating and set a $83.00 target price on the stock. in a research report on Friday, February 16th. Finally, Morgan Stanley upped their target price on Omnicom Group from $72.00 to $76.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $83.36.
Omnicom Group Inc. (NYSE:OMC) opened at $76.79 on Friday. The stock has a market capitalization of $17,737.51, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 2.46 and a beta of 1.20. The company has a quick ratio of 0.86, a current ratio of 0.93 and a debt-to-equity ratio of 1.56. Omnicom Group Inc. has a fifty-two week low of $65.32 and a fifty-two week high of $86.71.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. Omnicom Group had a return on equity of 40.67% and a net margin of 7.12%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share. equities analysts expect that Omnicom Group Inc. will post 5.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Friday, March 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.40 annualized dividend and a yield of 3.13%. Omnicom Group’s payout ratio is currently 51.72%.
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Omnicom Group Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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