Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Holdings in Omnicom Group Inc. $OMC

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 149,307 shares of the business services provider’s stock, valued at approximately $12,057,000.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management grew its stake 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 valued at $25,000 after acquiring an additional 296 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC grew its stake 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 valued at $27,000 after acquiring an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its stake 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 valued at $27,000 after acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective 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. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Barclays boosted their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Finally, UBS Group boosted their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.71.

Omnicom Group Price Performance

OMC stock opened at $71.82 on Wednesday. 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 Inc. has a one year low of $66.33 and a one year high of $87.17. The stock has a market cap of $20.47 billion, a PE ratio of 184.15, a P/E/G ratio of 0.44 and a beta of 0.66. The firm has a 50 day simple moving average of $76.31 and a two-hundred day simple moving average of $76.51.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results 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 net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group announced that its Board of Directors has authorized a share buyback 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 purchase up to 38.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.