Mediolanum International Funds Ltd Purchases Shares of 74,410 Omnicom Group Inc. $OMC

Mediolanum International Funds Ltd acquired a new position in Omnicom Group Inc. (NYSE:OMC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,410 shares of the business services provider’s stock, valued at approximately $5,888,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Omnicom Group by 117.9% in the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after acquiring an additional 3,362,411 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Omnicom Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after purchasing an additional 2,820,553 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Omnicom Group by 38.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares during the period. Qube Research & Technologies Ltd purchased a new position in Omnicom Group during the second quarter valued at $67,048,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Omnicom Group by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after purchasing an additional 691,560 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.8%

NYSE OMC opened at $76.46 on Tuesday. The stock has a 50 day moving average price of $77.75 and a 200-day moving average price of $76.66. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $89.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market capitalization of $14.76 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.24 and a beta of 0.74.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a $0.80 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, December 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s payout ratio is presently 47.27%.

Analysts Set New Price Targets

A number of analysts have commented on OMC shares. Bank of America restated an “underperform” rating and issued a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays raised their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Morgan Stanley initiated coverage on Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target on the stock. Finally, UBS Group lifted their price objective 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. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.14.

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.