E. Ohman J or Asset Management AB Acquires New Position in Omnicom Group Inc. $OMC

E. Ohman J or Asset Management AB acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,681 shares of the business services provider’s stock, valued at approximately $620,000.

Other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC grew its position in shares of Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Capital A Wealth Management LLC lifted its position in Omnicom Group by 548.3% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock worth $27,000 after buying an additional 318 shares in the last quarter. Westside Investment Management Inc. lifted its position in Omnicom Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after buying an additional 202 shares in the last quarter. Finally, Wealth Watch Advisors INC acquired a new position in Omnicom Group during the third quarter worth $34,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 0.4%

OMC opened at $75.68 on Thursday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $77.39 and a 200-day simple moving average of $77.01. The firm has a market cap of $23.49 billion, a P/E ratio of 154.45, a P/E/G ratio of 0.63 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data 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). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. Omnicom Group’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group declared that its board has approved a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be paid 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 4.2%. Omnicom Group’s dividend payout ratio is 653.06%.

Analyst Ratings Changes

Several analysts have issued reports on OMC shares. Barclays upped their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Bank of America reissued an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Morgan Stanley started coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective for the company. UBS Group raised their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Citigroup lifted their target price on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $95.86.

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.