AustralianSuper Pty Ltd Buys 25,317 Shares of Omnicom Group Inc. $OMC

AustralianSuper Pty Ltd raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 24.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,755 shares of the business services provider’s stock after purchasing an additional 25,317 shares during the period. AustralianSuper Pty Ltd owned 0.07% of Omnicom Group worth $10,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OMC. First Eagle Investment Management LLC purchased a new position in Omnicom Group during the third quarter valued at approximately $515,145,000. Manske Wealth Management acquired a new stake in Omnicom Group in the 3rd quarter valued at $213,000. Strive Asset Management LLC purchased a new stake in shares of Omnicom Group during the third quarter worth approximately $815,000. Focus Partners Advisor Solutions LLC purchased a new stake in Omnicom Group in the 3rd quarter valued at $437,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Omnicom Group during the third quarter worth $229,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE:OMC opened at $84.46 on Wednesday. The firm’s 50-day moving average is $77.52 and its 200-day moving average is $76.88. The company has a market cap of $26.21 billion, a price-to-earnings ratio of 172.37, a PEG ratio of 1.27 and a beta of 0.71. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.During the same quarter last year, the firm posted $2.41 EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. Omnicom Group’s payout ratio is currently 653.06%.

Omnicom Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Citigroup boosted their target price on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Morgan Stanley started coverage on Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective on the stock. Finally, UBS Group lifted their price target on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

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.