Omnicom Group Inc. $OMC Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP increased its position in Omnicom Group Inc. (NYSE:OMC) by 1,457.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 343,140 shares of the business services provider’s stock after acquiring an additional 321,105 shares during the period. Engineers Gate Manager LP’s holdings in Omnicom Group were worth $27,709,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management increased its position in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Omnicom Group during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in Omnicom Group during the fourth quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its position in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new position in Omnicom Group during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC opened at $76.18 on Thursday. 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 Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a 50 day moving average of $75.58 and a two-hundred day moving average of $76.77. The company has a market cap of $21.71 billion, a P/E ratio of 195.34, a P/E/G ratio of 0.46 and a beta of 0.63.

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

Omnicom Group announced that its board has initiated a stock repurchase program on Wednesday, February 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is currently 820.51%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. UBS Group upped their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Morgan Stanley upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.00.

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.