Councilmark Asset Management LLC Invests $799,000 in Omnicom Group Inc. $OMC

Councilmark Asset Management LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 9,891 shares of the business services provider’s stock, valued at approximately $799,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OMC. Harbour Investments Inc. raised its position in Omnicom Group by 68.3% in the 4th quarter. Harbour Investments Inc. now owns 749 shares of the business services provider’s stock worth $60,000 after purchasing an additional 304 shares during the period. Allstate Corp boosted its position in Omnicom Group by 242.7% during the fourth quarter. Allstate Corp now owns 24,088 shares of the business services provider’s stock valued at $1,945,000 after buying an additional 17,059 shares during the period. Cooke & Bieler LP boosted its position in Omnicom Group by 11.8% during the fourth quarter. Cooke & Bieler LP now owns 2,538,012 shares of the business services provider’s stock valued at $204,944,000 after buying an additional 268,141 shares during the period. Choate Investment Advisors bought a new position in shares of Omnicom Group during the fourth quarter valued at about $215,000. Finally, CYBER HORNET ETFs LLC grew its stake in shares of Omnicom Group by 76.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 946 shares of the business services provider’s stock valued at $76,000 after buying an additional 411 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price 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. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday. Finally, Citigroup dropped their price objective 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. Four equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.71.

Omnicom Group Stock Performance

Omnicom Group stock opened at $74.95 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $21.36 billion, a P/E ratio of 192.19, a P/E/G ratio of 0.45 and a beta of 0.66. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The firm has a 50-day moving average of $75.78 and a 200-day moving average of $76.50.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 EPS. Sell-side 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. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. Omnicom Group’s payout ratio is 820.51%.

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

Omnicom Group Company 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.