Barclays PLC Increases Stake in Omnicom Group Inc. $OMC

Barclays PLC grew its position in Omnicom Group Inc. (NYSE:OMC) by 29.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,359,563 shares of the business services provider’s stock after purchasing an additional 312,921 shares during the period. Barclays PLC’s holdings in Omnicom Group were worth $109,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. raised its stake in shares of Omnicom Group by 135.2% in the fourth quarter. Brown Advisory Inc. now owns 29,906 shares of the business services provider’s stock valued at $2,415,000 after acquiring an additional 17,193 shares during the period. Aigen Investment Management LP purchased a new position in Omnicom Group in the 4th quarter worth about $3,217,000. Atlas Capital Advisors Inc. purchased a new position in Omnicom Group in the 4th quarter worth about $865,000. CreativeOne Wealth LLC purchased a new position in Omnicom Group in the 4th quarter worth about $250,000. Finally, Kestra Advisory Services LLC increased its stake in Omnicom Group by 11.3% in the 4th quarter. Kestra Advisory Services LLC now owns 15,698 shares of the business services provider’s stock worth $1,268,000 after buying an additional 1,595 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.1%

NYSE OMC opened at $76.63 on Tuesday. 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 $21.84 billion, a price-to-earnings ratio of 196.50, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64. The company’s 50-day simple moving average is $75.53 and its two-hundred day simple moving average is $76.69. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17.

Omnicom Group (NYSE:OMC) last posted 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. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Equities analysts forecast 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 repurchase program on Wednesday, February 18th that permits the company to repurchase $5.00 billion in outstanding 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 often an indication that the company’s leadership believes its shares are 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Wall Street Analyst Weigh In

Several research firms recently commented on OMC. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued 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 research note on Friday, May 22nd. Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. UBS Group raised their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Barclays raised their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.00.

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.