First Trust Advisors LP Has $56.81 Million Stock Holdings in Omnicom Group Inc. $OMC

First Trust Advisors LP decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696,812 shares of the business services provider’s stock after selling 89,172 shares during the period. First Trust Advisors LP’s holdings in Omnicom Group were worth $56,811,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in Omnicom Group by 15.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock worth $8,831,000 after buying an additional 14,368 shares during the period. Principal Financial Group Inc. increased its stake in shares of Omnicom Group by 18.7% in the third quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock valued at $153,068,000 after buying an additional 295,379 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Omnicom Group in the third quarter valued at about $870,000. National Pension Service raised its position in shares of Omnicom Group by 35.3% during the third quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock worth $9,063,000 after acquiring an additional 29,014 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Omnicom Group during the third quarter worth about $5,888,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of several analyst reports. Citigroup upped their target price on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Barclays raised their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Morgan Stanley assumed coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. UBS Group increased their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Trading Down 3.8%

NYSE OMC opened at $80.80 on Wednesday. The stock has a market capitalization of $25.07 billion, a P/E ratio of 164.89, a P/E/G ratio of 0.80 and a beta of 0.71. The business has a 50 day simple moving average of $77.91 and a 200 day simple moving average of $77.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the business earned $2.41 earnings per share. Research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s payout ratio is presently 653.06%.

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.