Steel Grove Capital Advisors LLC Invests $1.57 Million in Omnicom Group Inc. $OMC

Steel Grove Capital Advisors LLC bought a new position in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, Holdings Channel reports. The firm bought 19,394 shares of the business services provider’s stock, valued at approximately $1,566,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after acquiring an additional 15,220,444 shares during the last quarter. State Street Corp lifted its holdings in shares of Omnicom Group by 15.8% in the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Omnicom Group by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock worth $660,969,000 after acquiring an additional 1,893,316 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Omnicom Group by 5.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider’s stock worth $635,538,000 after acquiring an additional 433,461 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $542,376,000 after acquiring an additional 2,820,553 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.8%

Shares of OMC opened at $74.36 on Wednesday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a 50-day moving average of $75.71 and a 200 day moving average of $76.51. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of 190.67, a PEG ratio of 0.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC) last announced 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. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. On average, research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

Omnicom Group declared that its board has approved a share repurchase plan on Wednesday, February 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OMC shares. Barclays lifted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group lifted their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday. Finally, Morgan Stanley lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.71.

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.