Allstate Corp Invests $573,000 in Omnicom Group Inc. $OMC

Allstate Corp purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,029 shares of the business services provider’s stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Capital A Wealth Management LLC increased its stake in Omnicom Group by 548.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after buying an additional 318 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group in the second quarter valued at approximately $29,000. Meeder Asset Management Inc. increased its position in shares of Omnicom Group by 289.4% during the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Omnicom Group during the second quarter worth $34,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Omnicom Group in the second quarter worth $37,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $79.21 on Friday. The firm has a market capitalization of $15.29 billion, a PE ratio of 11.70, a P/E/G ratio of 1.31 and a beta of 0.74. 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 company has a 50-day moving average price of $77.10 and a two-hundred day moving average price of $76.37. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $89.35.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Equities analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, December 19th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s payout ratio is presently 47.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. UBS Group increased their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Bank of America reaffirmed an “underperform” rating and issued a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Barclays boosted their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley assumed 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 for the company. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Company 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.