Principal Financial Group Inc. Increases Stock Position in Omnicom Group Inc. $OMC

Principal Financial Group Inc. grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,488,178 shares of the business services provider’s stock after purchasing an additional 21,553 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Omnicom Group worth $112,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in OMC. Activest Wealth Management lifted its holdings in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group during the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its position in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG acquired a new position in Omnicom Group during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. 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 target price on the stock. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Stock Up 0.3%

OMC opened at $81.03 on Thursday. 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 moving average price of $75.55 and a two-hundred day moving average price of $76.75. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $23.09 billion, a PE ratio of 207.78, a P/E/G ratio of 0.48 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the business posted $1.70 EPS. As a group, research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 10th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

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.