AIA Group Ltd Purchases Shares of 16,873 Omnicom Group Inc. $OMC

AIA Group Ltd acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,873 shares of the business services provider’s stock, valued at approximately $1,376,000.

Other institutional investors also recently modified their holdings of the company. Hudson Bay Capital Management LP acquired a new position in shares of Omnicom Group in the 3rd quarter worth approximately $213,000. Severin Investments LLC bought a new position in Omnicom Group in the 3rd quarter valued at $227,000. Allworth Financial LP raised its position in Omnicom Group by 19.7% in the 3rd quarter. Allworth Financial LP now owns 3,373 shares of the business services provider’s stock valued at $275,000 after purchasing an additional 554 shares during the last quarter. Groupama Asset Managment acquired a new position in Omnicom Group in the third quarter worth $284,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Omnicom Group by 7.4% during the third quarter. CIBC Private Wealth Group LLC now owns 10,890 shares of the business services provider’s stock worth $888,000 after purchasing an additional 750 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on OMC shares. Bank of America restated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Barclays upped their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Citigroup raised their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 20th. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley started coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. 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 company. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and an average target price of $95.86.

Omnicom Group Stock Down 1.1%

OMC opened at $75.00 on Friday. The stock has a fifty day moving average of $77.57 and a 200-day moving average of $77.07. The company has a market capitalization of $23.28 billion, a P/E ratio of 153.07, a P/E/G ratio of 0.63 and a beta of 0.71. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. 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 released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company posted $2.41 earnings per share. The company’s revenue was up 27.9% on a year-over-year basis. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. Omnicom Group’s dividend payout ratio (DPR) is currently 653.06%.

Omnicom Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.