Bank of New York Mellon Corp Acquires 814,328 Shares of Omnicom Group Inc. $OMC

Bank of New York Mellon Corp increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 7.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,098,191 shares of the business services provider’s stock after purchasing an additional 814,328 shares during the period. Bank of New York Mellon Corp owned 4.24% of Omnicom Group worth $911,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OMC. Activest Wealth Management increased its holdings in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Omnicom Group in the fourth quarter worth about $26,000. Elyxium Wealth LLC bought a new stake in shares of Omnicom Group in the 4th quarter valued at about $26,000. Legacy Wealth Managment LLC ID boosted its holdings in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. Finally, EFG International AG bought a new position in Omnicom Group during the 4th quarter worth approximately $28,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 0.3%

NYSE:OMC opened at $81.03 on Thursday. The company has a 50-day moving average price of $75.55 and a 200-day moving average price of $76.75. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 207.78, a P/E/G ratio of 0.48 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. 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, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the company earned $1.70 earnings per share. Omnicom Group’s quarterly revenue was up 69.2% on a year-over-year basis. Equities analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 10th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. Omnicom Group’s payout ratio is currently 820.51%.

Analysts Set New Price Targets

OMC has been the subject of several recent research reports. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group lifted their target price 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. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Finally, Morgan Stanley raised their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus target price of $99.38.

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.