ProShare Advisors LLC Raises Stock Holdings in Omnicom Group Inc. $OMC

ProShare Advisors LLC boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 59.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,997 shares of the business services provider’s stock after purchasing an additional 26,470 shares during the quarter. ProShare Advisors LLC’s holdings in Omnicom Group were worth $5,733,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OMC. Activest Wealth Management boosted 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 in the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group during the fourth quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its position in Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted 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 in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE OMC opened at $74.95 on Friday. The company has a market cap of $21.36 billion, a PE ratio of 192.19, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. The stock’s 50 day simple moving average is $75.83 and its 200-day simple moving average is $76.47. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. 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 EPS for the quarter, topping 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 the consensus estimate of $5.85 billion. During the same quarter last year, the business posted $1.70 earnings per share. The firm’s revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a dividend of $0.80 per share. The ex-dividend date 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 presently 820.51%.

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 buy up to 38.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Barclays raised their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Four research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.