Omnicom Group Inc. $OMC Position Boosted by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 83.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,073 shares of the business services provider’s stock after buying an additional 6,844 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Omnicom Group were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC grew its holdings in Omnicom Group by 37.2% in the 1st quarter. Hsbc Holdings PLC now owns 1,444,255 shares of the business services provider’s stock worth $118,593,000 after buying an additional 391,876 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Omnicom Group by 52.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,380 shares of the business services provider’s stock worth $529,000 after buying an additional 2,185 shares in the last quarter. Financial Advisors Network Inc. grew its holdings in Omnicom Group by 6.1% in the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock worth $228,000 after buying an additional 159 shares in the last quarter. Quantbot Technologies LP boosted its stake in Omnicom Group by 361.0% during the 1st quarter. Quantbot Technologies LP now owns 65,998 shares of the business services provider’s stock valued at $5,472,000 after purchasing an additional 51,682 shares in the last quarter. Finally, Qtron Investments LLC bought a new position in Omnicom Group during the 1st quarter valued at $356,000. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. decreased their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Monday, June 23rd. Wells Fargo & Company decreased their price target on Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $94.43.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $76.18 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.51 and a beta of 0.94. The stock’s fifty day simple moving average is $72.94 and its 200 day simple moving average is $76.24. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s payout ratio is currently 40.17%.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.