E. Ohman J or Asset Management AB Acquires New Position in Omnicom Group Inc. $OMC

E. Ohman J or Asset Management AB bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,681 shares of the business services provider’s stock, valued at approximately $620,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its stake in shares of Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Omnicom Group by 289.4% during the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after acquiring an additional 272 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 318 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 202 shares in the last quarter. Finally, Wealth Watch Advisors INC purchased a new position in Omnicom Group in the third quarter valued at $34,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OMC shares. Citigroup upped their price target on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. UBS Group lifted their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Barclays boosted their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Finally, Morgan Stanley started coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.86.

Omnicom Group Trading Up 0.4%

NYSE OMC opened at $75.68 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The firm’s fifty day moving average price is $77.39 and its 200 day moving average price is $77.01. The company has a market capitalization of $23.49 billion, a price-to-earnings ratio of 154.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17.

Omnicom Group (NYSE:OMC) last announced 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 had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period last year, the firm earned $2.41 earnings per share. Omnicom Group’s revenue was up 27.9% on a year-over-year basis. On average, sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

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 dividend of $0.80 per share. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s payout ratio is 653.06%.

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

Omnicom Group Company 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.