Meiji Yasuda Asset Management Co Ltd. Has $539,000 Holdings in Omnicom Group Inc. $OMC

Meiji Yasuda Asset Management Co Ltd. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 65.0% in the fourth quarter, Holdings Channel reports. The firm owned 6,675 shares of the business services provider’s stock after selling 12,420 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Omnicom Group were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OMC. Activest Wealth Management grew its stake in shares of 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 during the period. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group during the fourth quarter worth $26,000. Cornerstone Planning Group LLC grew its stake in shares of 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 during the period. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of 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 during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Argus raised Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. UBS Group boosted their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Citigroup decreased their target price 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. Finally, 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. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Omnicom Group has an average rating of “Hold” and an average price target of $93.71.

Omnicom Group Stock Up 1.6%

NYSE:OMC opened at $74.95 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. 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 stock has a market cap of $21.36 billion, a price-to-earnings ratio of 192.19, a PEG ratio of 0.45 and a beta of 0.66. The stock has a 50-day moving average price of $75.83 and a two-hundred day moving average price of $76.47.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 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 analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.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 company posted $1.70 earnings per share. As a group, equities analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared 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 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

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

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.