Delta Global Management LP Reduces Position in Omnicom Group Inc. $OMC

Delta Global Management LP trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 86.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,471 shares of the business services provider’s stock after selling 28,226 shares during the period. Delta Global Management LP’s holdings in Omnicom Group were worth $365,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bollard Group LLC grew its holdings in Omnicom Group by 6.0% during the second quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 145 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Omnicom Group by 2.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 7,330 shares of the business services provider’s stock worth $598,000 after buying an additional 145 shares during the period. Deseret Mutual Benefit Administrators lifted its position in shares of Omnicom Group by 7.9% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,031 shares of the business services provider’s stock valued at $166,000 after buying an additional 149 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in shares of Omnicom Group by 3.1% during the 3rd quarter. Impact Partnership Wealth LLC now owns 4,923 shares of the business services provider’s stock valued at $401,000 after buying an additional 150 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Omnicom Group by 4.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock valued at $305,000 after acquiring an additional 156 shares during the period. 91.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on OMC shares. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. UBS Group increased their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Morgan Stanley began coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, Bank of America reaffirmed an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Omnicom Group Trading Up 1.1%

OMC stock opened at $78.66 on Tuesday. 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 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 160.52, a PEG ratio of 0.75 and a beta of 0.71. The business has a 50 day simple moving average of $77.77 and a two-hundred day simple moving average of $77.11.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period last year, the business earned $2.41 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s payout ratio is currently 653.06%.

About Omnicom Group

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.