Canada Pension Plan Investment Board Purchases New Position in Omnicom Group Inc. $OMC

Canada Pension Plan Investment Board acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the second quarter, HoldingsChannel.com reports. The firm acquired 93,400 shares of the business services provider’s stock, valued at approximately $6,802,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Resona Asset Management Co. Ltd. grew its stake in shares of Omnicom Group by 55.4% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after acquiring an additional 35,247 shares during the period. Generali Asset Management SPA SGR raised its holdings in shares of Omnicom Group by 346.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock valued at $1,662,000 after purchasing an additional 15,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Omnicom Group by 70.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock valued at $54,815,000 after purchasing an additional 277,665 shares during the period. Orca Investment Management LLC bought a new position in Omnicom Group during the second quarter valued at approximately $2,023,000. Finally, New York State Teachers Retirement System boosted its holdings in Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock worth $20,282,000 after purchasing an additional 103,615 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 0.5%

Shares of Omnicom Group stock opened at $88.32 on Friday. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 76.14, a PEG ratio of 0.59 and a beta of 0.64. The business has a 50-day moving average price of $81.71 and a 200-day moving average price of $78.19. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s payout ratio is presently 275.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OMC shares. The Goldman Sachs Group initiated 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. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their target price on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Citigroup cut their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.00.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

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.