LVZ Inc. Buys Shares of 6,614 Omnicom Group Inc. $OMC

LVZ Inc. purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,614 shares of the business services provider’s stock, valued at approximately $539,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in OMC. JPMorgan Chase & Co. grew its position in Omnicom Group by 117.9% in the second quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after acquiring an additional 3,362,411 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Omnicom Group by 38.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after purchasing an additional 1,255,197 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Omnicom Group in the 2nd quarter worth about $67,048,000. Massachusetts Financial Services Co. MA increased its position in shares of Omnicom Group by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after purchasing an additional 691,560 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Omnicom Group by 2,524.0% during the 2nd quarter. Jump Financial LLC now owns 504,195 shares of the business services provider’s stock valued at $36,272,000 after buying an additional 484,980 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.9%

Shares of NYSE OMC opened at $77.43 on Wednesday. The firm’s fifty day moving average is $76.27 and its 200 day moving average is $76.13. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $89.35. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.30 and a beta of 0.74.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, December 19th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. Omnicom Group’s payout ratio is 47.27%.

Wall Street Analyst Weigh In

Several analysts have issued reports on OMC shares. Barclays upped their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Bank of America reaffirmed an “underperform” rating and issued a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. UBS Group increased their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Morgan Stanley assumed coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.14.

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.