Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Omnicom Group Inc. $OMC

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Omnicom Group Inc. (NYSE:OMC) by 70.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,012 shares of the business services provider’s stock after purchasing an additional 16,989 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Omnicom Group were worth $3,312,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management grew its holdings in Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group during the 4th quarter valued at $26,000. Cornerstone Planning Group LLC grew its holdings in Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 319 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Omnicom Group by 289.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in Omnicom Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after buying an additional 202 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 0.2%

Shares of OMC opened at $77.04 on Friday. 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 firm has a market capitalization of $21.96 billion, a P/E ratio of 197.55, a price-to-earnings-growth ratio of 0.46 and a beta of 0.66. The stock’s fifty day simple moving average is $78.07 and its 200 day simple moving average is $76.78. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17.

Omnicom Group (NYSE:OMC) last issued its earnings results 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 analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the company posted $1.70 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group declared that its board has approved a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OMC. UBS Group increased their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley increased their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup lowered their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Barclays increased their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Argus upgraded Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.71.

Omnicom Group 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.