Citizens Financial Group Inc. RI Buys New Shares in Omnicom Group Inc. $OMC

Citizens Financial Group Inc. RI purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, Holdings Channel reports. The firm purchased 6,545 shares of the business services provider’s stock, valued at approximately $477,000.

Other large investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. grew its position in Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock valued at $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% in the 4th quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock worth $1,662,000 after purchasing an additional 15,966 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Omnicom Group by 70.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock worth $54,815,000 after purchasing an additional 277,665 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Omnicom Group by 901.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 481,765 shares of the business services provider’s stock valued at $38,903,000 after purchasing an additional 433,654 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Omnicom Group by 6,819.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 214,222 shares of the business services provider’s stock valued at $17,298,000 after purchasing an additional 211,126 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 1.2%

NYSE:OMC opened at $87.38 on Thursday. The business’s 50-day moving average is $79.89 and its two-hundred day moving average is $77.43. The firm has a market capitalization of $23.97 billion, a PE ratio of 75.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $88.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group’s payout ratio is 275.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Morgan Stanley raised their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Citigroup decreased their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, 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 objective for the company. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $99.00.

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.