Omnicom Group Inc. $OMC Position Cut by Korea Investment CORP

Korea Investment CORP decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 33.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,905 shares of the business services provider’s stock after selling 44,703 shares during the quarter. Korea Investment CORP’s holdings in Omnicom Group were worth $6,540,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of OMC. Harbor Asset Planning Inc. bought a new stake in Omnicom Group in the 2nd quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group in the first quarter valued at approximately $34,000. Ameritas Advisory Services LLC bought a new stake in shares of Omnicom Group during the second quarter valued at approximately $34,000. Gen Wealth Partners Inc acquired a new position in shares of Omnicom Group during the first quarter worth approximately $36,000. Finally, CGC Financial Services LLC bought a new position in Omnicom Group in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Up 0.5%

Shares of OMC stock opened at $72.00 on Tuesday. The stock has a 50-day simple moving average of $75.82 and a 200 day simple moving average of $74.80. The stock has a market capitalization of $13.89 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $105.49. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business earned $2.03 earnings per share. Omnicom Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 19th will be paid a dividend of $0.80 per share. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, December 19th. Omnicom Group’s dividend payout ratio (DPR) is currently 47.27%.

Analyst Ratings Changes

Several brokerages have weighed in on OMC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Barclays lifted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.57.

About Omnicom Group

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.