CIBC Bancorp USA Inc. Buys Shares of 147,430 Omnicom Group Inc. $OMC

CIBC Bancorp USA Inc. purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 147,430 shares of the business services provider’s stock, valued at approximately $12,020,000. CIBC Bancorp USA Inc. owned 0.08% of Omnicom Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey lifted its holdings in Omnicom Group by 6.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 29,943 shares of the business services provider’s stock valued at $2,154,000 after acquiring an additional 1,805 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Omnicom Group by 6.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,852 shares of the business services provider’s stock valued at $3,442,000 after purchasing an additional 2,917 shares during the period. Cetera Investment Advisers increased its position in shares of Omnicom Group by 5.3% during the 2nd quarter. Cetera Investment Advisers now owns 137,937 shares of the business services provider’s stock valued at $9,923,000 after purchasing an additional 6,903 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Omnicom Group during the 2nd quarter valued at about $256,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Omnicom Group by 16.4% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 88,063 shares of the business services provider’s stock worth $6,335,000 after purchasing an additional 12,415 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 0.4%

Shares of NYSE:OMC opened at $75.81 on Friday. The stock has a 50 day moving average of $77.66 and a 200 day moving average of $77.09. The company has a market cap of $23.53 billion, a PE ratio of 154.71, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). The business had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.41 EPS. As a group, equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

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

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is 653.06%.

Analysts Set New Price Targets

A number of research firms recently issued reports on OMC. Citigroup raised their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Morgan Stanley began coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target on the stock. Barclays boosted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, Bank of America restated an “underperform” rating and issued a $77.00 price objective (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, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus target price 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.