Daiichi Life Insurance Co. Ltd. Makes New $424,000 Investment in Omnicom Group Inc. $OMC

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,826 shares of the business services provider’s stock, valued at approximately $424,000.

Several other large investors have also modified their holdings of OMC. Resona Asset Management Co. Ltd. lifted its stake in shares of Omnicom Group by 55.4% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after purchasing an additional 35,247 shares during the last quarter. Generali Asset Management SPA SGR grew its stake in Omnicom Group by 346.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock valued at $1,662,000 after purchasing an additional 15,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Omnicom Group by 70.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock valued at $54,815,000 after purchasing an additional 277,665 shares during the last quarter. Orca Investment Management LLC bought a new position in Omnicom Group in the second quarter worth about $2,023,000. Finally, New York State Teachers Retirement System raised its holdings in Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock worth $20,282,000 after purchasing an additional 103,615 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Citigroup cut their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company boosted 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. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Trading Up 1.6%

Omnicom Group stock opened at $88.94 on Tuesday. The stock has a 50-day moving average of $80.59 and a two-hundred day moving average of $77.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The stock has a market cap of $24.40 billion, a PE ratio of 76.68, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64.

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

Omnicom Group Dividend Announcement

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 given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) 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.