Nomura Asset Management Co. Ltd. Increases Stock Position in Omnicom Group Inc. $OMC

Nomura Asset Management Co. Ltd. increased its position in Omnicom Group Inc. (NYSE:OMC) by 66.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 109,428 shares of the business services provider’s stock after purchasing an additional 43,844 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $8,836,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC raised its holdings in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID raised its holdings in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of OMC opened at $73.67 on Thursday. The firm has a market cap of $21.00 billion, a PE ratio of 188.91, a P/E/G ratio of 0.45 and a beta of 0.63. 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 fifty day simple moving average of $75.45 and a two-hundred day simple moving average of $76.55. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17.

Omnicom Group (NYSE:OMC) last announced its earnings results 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 business 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 company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently announced 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. 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 payout ratio is currently 820.51%.

Wall Street Analyst Weigh In

OMC has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. UBS Group boosted their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a report on Wednesday. They issued a “buy” rating and a $146.00 price objective for the company. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Finally, Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and an average price target of $99.00.

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.