Danica Pension Livsforsikringsaktieselskab Acquires Shares of 123,410 Omnicom Group Inc. $OMC

Danica Pension Livsforsikringsaktieselskab bought a new position in Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 123,410 shares of the business services provider’s stock, valued at approximately $8,988,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Omnicom Group in the second quarter worth $2,082,476,000. Vanguard Group Inc. boosted its position in Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Omnicom Group in the second quarter valued at about $914,156,000. State Street Corp grew its stake in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Omnicom Group by 522.9% in the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock worth $419,858,000 after purchasing an additional 4,364,797 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OMC. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Citigroup lowered their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Price Performance

NYSE OMC opened at $86.40 on Wednesday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55. The stock’s 50-day moving average is $79.62 and its two-hundred day moving average is $77.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The firm has a market cap of $23.70 billion, a P/E ratio of 74.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. On average, analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

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.