PNC Financial Services Group Inc. Acquires 55,161 Shares of Omnicom Group Inc. $OMC

PNC Financial Services Group Inc. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,384 shares of the business services provider’s stock after purchasing an additional 55,161 shares during the period. PNC Financial Services Group Inc. owned about 0.14% of Omnicom Group worth $21,349,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management raised its stake in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd bought a new stake in Omnicom Group in the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group during the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC lifted its holdings in Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its holdings in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on OMC. Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup dropped their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Barclays upped their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group upped their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four equities 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $93.71.

Omnicom Group Trading Up 1.6%

Shares of Omnicom Group stock opened at $74.95 on Friday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 192.19, a PEG ratio of 0.44 and a beta of 0.66. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $75.83 and its 200-day moving average price is $76.47.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is 820.51%.

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

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.