Meeder Asset Management Inc. Buys New Position in Omnicom Group Inc. $OMC

Meeder Asset Management Inc. bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, HoldingsChannel reports. The institutional investor bought 105,530 shares of the business services provider’s stock, valued at approximately $7,686,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 in the last quarter. BlackRock Inc. purchased a new stake in Omnicom Group in the second quarter worth about $2,082,476,000. State Street Corp increased its position 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 worth $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group in the second quarter worth about $914,156,000. Finally, Geode Capital Management LLC lifted its position in shares of Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after buying an additional 3,117,188 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective 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. Citigroup decreased their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Down 2.4%

Omnicom Group stock opened at $85.51 on Tuesday. The stock has a market cap of $23.46 billion, a P/E ratio of 73.72, a PEG ratio of 0.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $88.55. The firm’s 50 day moving average price is $79.41 and its 200-day moving average price is $77.27.

Omnicom Group (NYSE:OMC) last issued its 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). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the company posted $2.05 EPS. Omnicom Group’s revenue was up 63.4% compared to the same quarter last year. On average, equities analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

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

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.