Storgate LLC Purchases New Holdings in Omnicom Group Inc. $OMC

Storgate LLC acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,431 shares of the business services provider’s stock, valued at approximately $681,000.

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

Analyst Ratings Changes

A number of analysts recently weighed in on OMC shares. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Morgan Stanley increased their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. UBS Group increased their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Five 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Price Performance

OMC stock opened at $76.52 on Friday. The company has a market capitalization of $21.81 billion, a P/E ratio of 196.21, a price-to-earnings-growth ratio of 0.45 and a beta of 0.63. 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 Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The business has a 50-day simple moving average of $75.49 and a two-hundred day simple moving average of $76.65.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 EPS. Research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group declared that its board has authorized a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

About Omnicom Group

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.