OP Asset Management Ltd Makes New $2.49 Million Investment in Omnicom Group Inc. $OMC

OP Asset Management Ltd purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,108 shares of the business services provider’s stock, valued at approximately $2,493,000.

Several other hedge funds have also made changes to their positions in OMC. Banque Cantonale Vaudoise grew its holdings in Omnicom Group by 79.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 15,168 shares of the business services provider’s stock valued at $1,142,000 after buying an additional 6,718 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Omnicom Group by 1.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 581,969 shares of the business services provider’s stock valued at $43,828,000 after acquiring an additional 6,813 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in shares of Omnicom Group by 5.6% during the 1st quarter. Centennial Wealth Advisory LLC now owns 9,249 shares of the business services provider’s stock worth $697,000 after acquiring an additional 491 shares during the period. Cidel Asset Management Inc. lifted its holdings in shares of Omnicom Group by 10.9% during the 1st quarter. Cidel Asset Management Inc. now owns 4,160 shares of the business services provider’s stock worth $313,000 after acquiring an additional 408 shares during the period. Finally, Community Bank & Trust Waco Texas acquired a new stake in shares of Omnicom Group in the first quarter worth approximately $343,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.4%

OMC opened at $73.11 on Friday. The firm has a 50 day moving average price of $75.11 and a 200 day moving average price of $76.78. The company has a market cap of $20.84 billion, a PE ratio of 187.46, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

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

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Analysts Set New Price Targets

OMC has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. 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 report on Friday, March 20th. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.00.

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.