Omnicom Group Inc. $OMC Stock Position Raised by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 58.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 384,635 shares of the business services provider’s stock after acquiring an additional 141,973 shares during the quarter. Omnicom Group accounts for 1.5% of Sound Income Strategies LLC’s portfolio, making the stock its 13th largest holding. Sound Income Strategies LLC owned 0.20% of Omnicom Group worth $30,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. State Street Corp boosted its stake in shares of Omnicom Group by 15.8% during the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Omnicom Group by 30.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock worth $660,969,000 after acquiring an additional 1,893,316 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after acquiring an additional 2,820,553 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Omnicom Group during the 3rd quarter worth $515,145,000. Finally, Invesco Ltd. boosted its position in shares of Omnicom Group by 28.2% in the third quarter. Invesco Ltd. now owns 3,370,837 shares of the business services provider’s stock worth $274,824,000 after buying an additional 741,604 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $75.98 on Tuesday. The stock has a market cap of $21.65 billion, a PE ratio of 155.07, a price-to-earnings-growth ratio of 0.61 and a beta of 0.73. The business has a fifty day simple moving average of $76.67 and a 200-day simple moving average of $76.89. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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 positive return on equity of 25.65% and a negative net margin of 0.32%.The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. Omnicom Group’s revenue was up 27.9% on a year-over-year basis. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is currently 653.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup raised their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Barclays raised their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Finally, UBS Group raised their target price on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.86.

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.