Y Intercept Hong Kong Ltd Purchases 16,866 Shares of Omnicom Group Inc. $OMC

Y Intercept Hong Kong Ltd lifted its position in Omnicom Group Inc. (NYSE:OMC) by 156.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,680 shares of the business services provider’s stock after buying an additional 16,866 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Omnicom Group were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after purchasing an additional 3,362,411 shares during the period. Charles Schwab Investment Management Inc. grew its position in Omnicom Group by 38.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock valued at $324,782,000 after buying an additional 1,255,197 shares during the period. Qube Research & Technologies Ltd bought a new stake in Omnicom Group during the second quarter valued at approximately $67,048,000. Massachusetts Financial Services Co. MA increased its holdings in Omnicom Group by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,869,786 shares of the business services provider’s stock valued at $566,152,000 after buying an additional 691,560 shares during the last quarter. Finally, Jump Financial LLC raised its position in Omnicom Group by 2,524.0% in the second quarter. Jump Financial LLC now owns 504,195 shares of the business services provider’s stock worth $36,272,000 after acquiring an additional 484,980 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OMC shares. Bank of America reissued an “underperform” rating and set a $77.00 price objective (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Morgan Stanley assumed coverage on Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. UBS Group lifted their price objective on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, Barclays boosted their price objective on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Price Performance

NYSE:OMC opened at $76.47 on Thursday. The business’s 50-day simple moving average is $77.59 and its two-hundred day simple moving average is $76.53. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $89.27. The stock has a market cap of $14.76 billion, a PE ratio of 11.30, a P/E/G ratio of 1.30 and a beta of 0.74. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Omnicom Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s payout ratio is presently 47.27%.

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.