MAI Capital Management Has $902,000 Stock Holdings in Omnicom Group Inc. $OMC

MAI Capital Management grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 626.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,059 shares of the business services provider’s stock after purchasing an additional 9,536 shares during the quarter. MAI Capital Management’s holdings in Omnicom Group were worth $902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OMC. JPMorgan Chase & Co. grew its position in shares of Omnicom Group by 117.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after acquiring an additional 3,362,411 shares during the period. Bank of New York Mellon Corp lifted its stake in Omnicom Group by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after purchasing an additional 2,820,553 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 period. Qube Research & Technologies Ltd bought a new position in Omnicom Group during the second quarter worth about $67,048,000. Finally, Massachusetts Financial Services Co. MA increased its position in Omnicom Group by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock worth $566,152,000 after buying an additional 691,560 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OMC shares. UBS Group raised their price objective on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Barclays raised their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Citigroup upped their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Morgan Stanley started 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 for the company. Finally, Bank of America reaffirmed an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and an average price target of $95.00.

Omnicom Group Stock Up 0.6%

OMC opened at $85.19 on Monday. The stock has a fifty day moving average of $77.29 and a 200-day moving average of $76.75. The company has a market capitalization of $26.44 billion, a P/E ratio of 173.85, a P/E/G ratio of 1.27 and a beta of 0.71. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company posted $2.41 earnings per share. The company’s revenue was up 27.9% on a year-over-year basis. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s payout ratio is presently 653.06%.

Omnicom Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.