9,742 Shares in Omnicom Group Inc. $OMC Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,742 shares of the business services provider’s stock, valued at approximately $794,000.

Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in shares of Omnicom Group by 15.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock valued at $8,831,000 after acquiring an additional 14,368 shares during the last quarter. Principal Financial Group Inc. boosted its position in Omnicom Group by 18.7% in the third quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock worth $153,068,000 after purchasing an additional 295,379 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Omnicom Group in the 3rd quarter valued at $870,000. AustralianSuper Pty Ltd grew its stake in Omnicom Group by 24.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock valued at $10,579,000 after purchasing an additional 25,317 shares during the period. Finally, National Pension Service increased its position in shares of Omnicom Group by 35.3% during the 3rd quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock valued at $9,063,000 after purchasing an additional 29,014 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OMC shares. Barclays lifted their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Morgan Stanley assumed coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Bank of America reissued an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.86.

Omnicom Group Stock Down 0.1%

OMC stock opened at $74.76 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of 152.58, a PEG ratio of 0.61 and a beta of 0.73. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The stock has a fifty day moving average of $76.76 and a 200-day moving average of $76.90.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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). The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $7.58 billion. Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The company’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 earnings per share. As a group, equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be given a $0.80 dividend. 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 payout ratio is 653.06%.

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

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.