Nykredit A S Invests $126.94 Million in Omnicom Group Inc. $OMC

Nykredit A S purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,742,923 shares of the business services provider’s stock, valued at approximately $126,937,000. Nykredit A S owned about 0.64% of Omnicom Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Omnicom Group during the 2nd quarter valued at $2,082,476,000. State Street Corp boosted its position in shares of Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Omnicom Group in the 2nd quarter worth about $914,156,000. Geode Capital Management LLC raised its position in Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after buying an additional 3,117,188 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Omnicom Group by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock valued at $512,927,000 after acquiring an additional 33,557 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OMC. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Performance

Shares of OMC opened at $81.76 on Thursday. The business has a 50-day simple moving average of $82.42 and a two-hundred day simple moving average of $78.56. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 70.48, a PEG ratio of 0.74 and a beta of 0.65.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. On average, analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

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.