Artisan Partners Limited Partnership Has $48.94 Million Stake in Omnicom Group Inc. $OMC

Artisan Partners Limited Partnership lessened its position in Omnicom Group Inc. (NYSE:OMC) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 600,208 shares of the business services provider’s stock after selling 42,354 shares during the period. Artisan Partners Limited Partnership’s holdings in Omnicom Group were worth $48,935,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Xponance Inc. increased its stake in shares of Omnicom Group by 8.0% in the third quarter. Xponance Inc. now owns 34,091 shares of the business services provider’s stock valued at $2,779,000 after buying an additional 2,515 shares during the period. DNB Asset Management AS boosted its position in Omnicom Group by 2.8% during the 3rd quarter. DNB Asset Management AS now owns 36,878 shares of the business services provider’s stock worth $3,007,000 after buying an additional 1,005 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Omnicom Group by 3.7% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396,400 shares of the business services provider’s stock worth $32,318,000 after acquiring an additional 14,155 shares during the last quarter. US Bancorp DE increased its position in Omnicom Group by 1.0% in the 3rd quarter. US Bancorp DE now owns 80,997 shares of the business services provider’s stock valued at $6,604,000 after acquiring an additional 824 shares during the period. Finally, MAI Capital Management raised its stake in shares of Omnicom Group by 626.1% during the third quarter. MAI Capital Management now owns 11,059 shares of the business services provider’s stock valued at $902,000 after acquiring an additional 9,536 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OMC has been the topic of several analyst reports. Bank of America reissued an “underperform” rating and issued a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. UBS Group raised their price objective on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Citigroup lifted their price objective on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley began coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price for the company. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Stock Up 0.6%

Shares of NYSE:OMC opened at $85.19 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.80. The business’s 50-day moving average is $77.29 and its 200-day moving average is $76.73. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 173.85, a P/E/G ratio of 1.26 and a beta of 0.74.

Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

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 paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.8%. Omnicom Group’s dividend payout ratio is currently 653.06%.

Omnicom Group declared that its Board of Directors has authorized a stock repurchase 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 reacquire up to 38.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Omnicom Group

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.