Hartford Investment Management Co. Buys 7,076 Shares of Omnicom Group Inc. $OMC

Hartford Investment Management Co. grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 62.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,378 shares of the business services provider’s stock after acquiring an additional 7,076 shares during the quarter. Hartford Investment Management Co.’s holdings in Omnicom Group were worth $1,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OMC. Oppenheimer Asset Management Inc. increased its holdings in Omnicom Group by 15.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock worth $8,831,000 after buying an additional 14,368 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Omnicom Group by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock worth $153,068,000 after buying an additional 295,379 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Omnicom Group in the 3rd quarter worth about $870,000. AustralianSuper Pty Ltd increased its holdings in Omnicom Group by 24.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock worth $10,579,000 after buying an additional 25,317 shares in the last quarter. Finally, National Pension Service increased its holdings in Omnicom Group by 35.3% in the 3rd quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock worth $9,063,000 after buying an additional 29,014 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Down 3.4%

Omnicom Group stock opened at $71.68 on Friday. The business has a 50-day simple moving average of $77.11 and a two-hundred day simple moving average of $76.62. The company has a market cap of $20.43 billion, a P/E ratio of 183.80, a P/E/G ratio of 0.44 and a beta of 0.66. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm earned $1.70 EPS. The business’s quarterly revenue was up 69.2% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group declared that its board has authorized a share buyback plan 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 purchase up to 38.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Omnicom Group Announces Dividend

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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OMC. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Argus upgraded Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Citigroup cut their price target on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Barclays boosted their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.