Bank of New York Mellon Corp Grows Stake in Omnicom Group Inc. $OMC

Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 69.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,283,863 shares of the business services provider’s stock after buying an additional 4,631,394 shares during the period. Bank of New York Mellon Corp owned 0.06% of Omnicom Group worth $911,172,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OMC. Oppenheimer Asset Management Inc. raised its holdings in Omnicom Group by 15.3% during 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. AustralianSuper Pty Ltd lifted its position in shares of Omnicom Group by 24.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock worth $10,579,000 after buying an additional 25,317 shares during the last quarter. National Pension Service boosted its holdings in shares of Omnicom Group by 35.3% in 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Omnicom Group by 3.7% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396,400 shares of the business services provider’s stock valued at $32,318,000 after buying an additional 14,155 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Omnicom Group by 155.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,116 shares of the business services provider’s stock valued at $7,265,000 after buying an additional 55,421 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on OMC. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. The Goldman Sachs Group initiated coverage on Omnicom Group in a report on Wednesday. They issued a “buy” rating and a $146.00 target price for the company. Finally, UBS Group upped their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Down 2.1%

Shares of Omnicom Group stock opened at $73.67 on Thursday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The company has a market capitalization of $21.00 billion, a P/E ratio of 188.91, a PEG ratio of 0.45 and a beta of 0.63. The company’s fifty day moving average is $75.45 and its two-hundred day moving average is $76.55.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The business’s revenue was up 69.2% compared to the same quarter last year. Analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

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

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

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.