Allstate Corp Boosts Stock Position in Omnicom Group Inc. $OMC

Allstate Corp increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 242.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,088 shares of the business services provider’s stock after purchasing an additional 17,059 shares during the quarter. Allstate Corp’s holdings in Omnicom Group were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Activest Wealth Management grew its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the period. Bayforest Capital Ltd purchased a new stake in Omnicom Group in the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC grew its holdings in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 319 shares during the period. Finally, Legacy Wealth Managment LLC ID grew its holdings in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. 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. Finally, Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday. They issued a “neutral” rating and a $89.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.13.

Omnicom Group Stock Performance

Omnicom Group stock opened at $74.09 on Friday. The stock’s 50 day moving average price is $75.55 and its 200 day moving average price is $76.52. The firm has a market capitalization of $21.12 billion, a PE ratio of 189.98, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS. As a group, sell-side analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is presently 820.51%.

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.