Swedbank AB Buys 9,003 Shares of Omnicom Group Inc. $OMC

Swedbank AB raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 17.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 62,054 shares of the business services provider’s stock after acquiring an additional 9,003 shares during the quarter. Swedbank AB’s holdings in Omnicom Group were worth $4,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. Vise Technologies Inc. increased its position in shares of Omnicom Group by 85.4% during the fourth quarter. Vise Technologies Inc. now owns 8,638 shares of the business services provider’s stock worth $743,000 after buying an additional 3,980 shares during the period. Toronto Dominion Bank grew its holdings in Omnicom Group by 1.2% in the fourth quarter. Toronto Dominion Bank now owns 87,032 shares of the business services provider’s stock worth $7,486,000 after purchasing an additional 1,071 shares during the period. Forum Financial Management LP grew its holdings in Omnicom Group by 76.9% in the fourth quarter. Forum Financial Management LP now owns 5,290 shares of the business services provider’s stock worth $455,000 after purchasing an additional 2,299 shares during the period. Integrated Advisors Network LLC grew its holdings in Omnicom Group by 9.2% in the fourth quarter. Integrated Advisors Network LLC now owns 2,945 shares of the business services provider’s stock worth $253,000 after purchasing an additional 247 shares during the period. Finally, ABLE Financial Group LLC grew its holdings in Omnicom Group by 28.6% in the fourth quarter. ABLE Financial Group LLC now owns 15,308 shares of the business services provider’s stock worth $1,317,000 after purchasing an additional 3,401 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of research reports. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company reduced their price target on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $94.43.

Omnicom Group Stock Down 1.1%

Shares of Omnicom Group stock opened at $75.19 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm’s 50-day moving average is $75.60 and its two-hundred day moving average is $75.32. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.49 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.95 earnings per share. As a group, research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is presently 40.17%.

Omnicom Group Profile

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.