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

Principal Financial Group Inc. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,877,462 shares of the business services provider’s stock after acquiring an additional 295,379 shares during the period. Principal Financial Group Inc. owned 0.97% of Omnicom Group worth $153,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Omnicom Group by 9.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,661 shares of the business services provider’s stock worth $1,846,000 after buying an additional 2,202 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Omnicom Group during the second quarter worth $34,000. 111 Capital purchased a new stake in shares of Omnicom Group in the 2nd quarter worth about $297,000. Tectonic Advisors LLC grew its position in shares of Omnicom Group by 14.4% in the second quarter. Tectonic Advisors LLC now owns 6,245 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 784 shares during the last quarter. Finally, Leo Wealth LLC acquired a new stake in Omnicom Group during the 2nd quarter valued at $265,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. UBS Group upped their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Barclays raised their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Morgan Stanley began coverage on Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective on the stock. Finally, Bank of America reiterated an “underperform” rating and issued a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Stock Down 0.8%

Shares of OMC stock opened at $76.46 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $77.75 and a 200-day moving average of $76.66. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $89.27. The firm has a market cap of $14.76 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.24 and a beta of 0.74.

Omnicom Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a $0.80 dividend. The ex-dividend date was Friday, December 19th. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio is 47.27%.

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.