New York Life Investment Management LLC Grows Position in Omnicom Group Inc. $OMC

New York Life Investment Management LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 65.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,564 shares of the business services provider’s stock after purchasing an additional 17,196 shares during the quarter. New York Life Investment Management LLC’s holdings in Omnicom Group were worth $3,518,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Berkeley Capital Partners LLC purchased a new stake in Omnicom Group in the fourth quarter valued at approximately $310,000. Allworth Financial LP lifted its position in Omnicom Group by 127.6% during the fourth quarter. Allworth Financial LP now owns 7,678 shares of the business services provider’s stock valued at $620,000 after buying an additional 4,305 shares in the last quarter. Proactive Wealth Strategies LLC lifted its position in Omnicom Group by 7.9% during the fourth quarter. Proactive Wealth Strategies LLC now owns 2,968 shares of the business services provider’s stock valued at $240,000 after buying an additional 218 shares in the last quarter. Atria Investments Inc lifted its position in Omnicom Group by 10.6% during the fourth quarter. Atria Investments Inc now owns 46,591 shares of the business services provider’s stock valued at $3,762,000 after buying an additional 4,471 shares in the last quarter. Finally, Catalyst Financial Partners LLC acquired a new position in Omnicom Group during the fourth quarter valued at approximately $202,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 0.1%

NYSE OMC opened at $70.89 on Monday. The company’s fifty day simple moving average is $76.81 and its 200-day simple moving average is $76.56. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $20.20 billion, a P/E ratio of 181.78, a PEG ratio of 0.42 and a beta of 0.66.

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 analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company posted $1.70 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group declared that its board has approved a share repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. UBS Group lifted their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.71.

Omnicom Group 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.