Resona Asset Management Co. Ltd. Decreases Holdings in Omnicom Group Inc. $OMC

Resona Asset Management Co. Ltd. trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,595 shares of the business services provider’s stock after selling 10,118 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $5,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OMC. Bollard Group LLC raised its stake in shares of Omnicom Group by 6.0% in the second quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 145 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Omnicom Group by 2.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,330 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 145 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Omnicom Group by 4.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock worth $305,000 after purchasing an additional 156 shares during the period. Resonant Capital Advisors LLC lifted its stake in Omnicom Group by 2.7% in the second quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock worth $457,000 after purchasing an additional 168 shares during the last quarter. Finally, Binnacle Investments Inc boosted its position in shares of Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 2.9%

NYSE OMC opened at $78.04 on Wednesday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $89.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. The company’s 50-day simple moving average is $77.50 and its two-hundred day simple moving average is $76.53.

Omnicom Group Increases Dividend

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

Analyst Ratings Changes

OMC has been the topic of several recent analyst reports. Morgan Stanley started coverage on Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target for the company. Bank of America reiterated an “underperform” rating and issued a $77.00 target price (down previously from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Barclays boosted their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. UBS Group upped their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. 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. According to MarketBeat, Omnicom Group currently has an average rating of “Hold” and an average target price of $92.14.

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.