Meiji Yasuda Asset Management Co Ltd. Takes $596,000 Position in Omnicom Group Inc. $OMC

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,189 shares of the business services provider’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management grew its position in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Omnicom Group in the second quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group during the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID lifted its position in shares of Omnicom Group by 111.4% during the 4th 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 during the last quarter. Finally, EFG International AG bought a new stake in shares of Omnicom Group during the 4th quarter worth $28,000. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Zacks Research downgraded shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Finally, Citigroup lowered 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. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Price Performance

Shares of OMC opened at $88.23 on Wednesday. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 76.06, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The business’s 50-day moving average is $80.81 and its 200-day moving average is $77.86.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio is 275.86%.

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.