Omnicom Group Inc. $OMC Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in Omnicom Group Inc. (NYSE:OMC) by 42.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,225 shares of the business services provider’s stock after acquiring an additional 9,288 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Omnicom Group were worth $2,546,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Omnicom Group by 15.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock worth $8,831,000 after purchasing an additional 14,368 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 period. Jackson Creek Investment Advisors LLC bought a new position in Omnicom Group in the 3rd quarter valued at about $870,000. National Pension Service increased its stake in 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 buying an additional 29,014 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Omnicom Group during the 3rd quarter worth about $5,888,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $84.46 on Wednesday. The stock’s fifty day simple moving average is $77.52 and its 200 day simple moving average is $76.88. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 172.37, a PEG ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.27.

Omnicom Group (NYSE:OMC) last released its quarterly 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). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the business posted $2.41 earnings per share. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its board has approved a share repurchase program on Wednesday, February 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Omnicom Group Announces Dividend

The company also recently announced 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. This represents a $3.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is 653.06%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OMC. Citigroup increased their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Bank of America reaffirmed an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Morgan Stanley started coverage on Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective for the company. Finally, UBS Group raised their target price on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Four equities 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, Omnicom Group has an average rating of “Hold” and an average target price of $95.00.

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.