JPMorgan Chase & Co. Raises Stake in Omnicom Group Inc. $OMC

JPMorgan Chase & Co. grew its position in Omnicom Group Inc. (NYSE:OMC) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,107,021 shares of the business services provider’s stock after purchasing an additional 1,893,316 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.20% of Omnicom Group worth $660,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMC. Bank of New York Mellon Corp raised its holdings in Omnicom Group by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after acquiring an additional 2,820,553 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 worth $324,782,000 after purchasing an additional 1,255,197 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Omnicom Group during the 2nd quarter valued at approximately $67,048,000. Massachusetts Financial Services Co. MA raised its stake in Omnicom Group by 9.6% during the 2nd 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 purchasing an additional 691,560 shares during the period. Finally, Jump Financial LLC lifted its holdings in Omnicom Group by 2,524.0% in the 2nd quarter. Jump Financial LLC now owns 504,195 shares of the business services provider’s stock worth $36,272,000 after purchasing an additional 484,980 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays lifted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. UBS Group lifted their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Morgan Stanley initiated coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective for the company. Bank of America restated 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and an average price target of $92.14.

Omnicom Group Trading Down 1.4%

OMC opened at $68.00 on Wednesday. The stock has a 50-day moving average of $77.16 and a 200 day moving average of $76.30. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.27. The firm has a market cap of $13.12 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.08 and a beta of 0.74.

Omnicom Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.20 annualized dividend and a dividend yield of 4.7%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio is presently 47.27%.

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.