Allspring Global Investments Holdings LLC Has $1.47 Million Position in Omnicom Group Inc. $OMC

Allspring Global Investments Holdings LLC grew its position in Omnicom Group Inc. (NYSE:OMC) by 72.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,096 shares of the business services provider’s stock after buying an additional 7,595 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Omnicom Group were worth $1,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brookstone Capital Management grew its holdings in shares of Omnicom Group by 17.0% during the 4th quarter. Brookstone Capital Management now owns 5,773 shares of the business services provider’s stock valued at $466,000 after purchasing an additional 840 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Omnicom Group by 64.2% during the 4th quarter. Retirement Systems of Alabama now owns 67,860 shares of the business services provider’s stock valued at $5,480,000 after purchasing an additional 26,537 shares during the last quarter. J. Safra Sarasin Holding AG bought a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $921,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Omnicom Group by 1.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 73,458 shares of the business services provider’s stock valued at $5,932,000 after purchasing an additional 958 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC grew its holdings in shares of Omnicom Group by 2.2% during the 4th quarter. Meriwether Wealth & Planning LLC now owns 10,139 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 222 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Trading Up 1.7%

NYSE:OMC opened at $76.96 on Thursday. 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 Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The firm’s fifty day moving average is $76.64 and its 200-day moving average is $76.90. The firm has a market cap of $21.93 billion, a P/E ratio of 157.06, a P/E/G ratio of 0.61 and a beta of 0.73.

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 analysts’ consensus estimates 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 company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the firm earned $2.41 EPS. The firm’s revenue was up 27.9% on a year-over-year basis. 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 initiated a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 38.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Omnicom Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group lifted their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. 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 report on Monday, January 5th. Finally, Citigroup boosted their target price 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. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus price target 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.