Handelsbanken Fonder AB Has $7.28 Million Holdings in Omnicom Group Inc. $OMC

Handelsbanken Fonder AB increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 99.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 90,155 shares of the business services provider’s stock after acquiring an additional 45,017 shares during the period. Handelsbanken Fonder AB’s holdings in Omnicom Group were worth $7,280,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in OMC. Activest Wealth Management increased its holdings in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC increased its holdings in shares of Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Up 1.6%

Shares of NYSE:OMC opened at $74.95 on Friday. The company has a market cap of $21.36 billion, a P/E ratio of 192.19, a P/E/G ratio of 0.44 and a beta of 0.66. The stock’s 50-day moving average is $75.83 and its 200-day moving average is $76.47. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week 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.

Omnicom Group (NYSE:OMC) last issued 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 return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the business posted $1.70 earnings per share. The firm’s revenue was up 69.2% compared to the same quarter last year. Equities research analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

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

Omnicom Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OMC shares. UBS Group increased their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup lowered their price target on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Finally, Barclays raised their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $93.71.

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.