Goldman Sachs Group Inc. Acquires 2,883,520 Shares of Omnicom Group Inc. $OMC

Goldman Sachs Group Inc. boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 89.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,106,022 shares of the business services provider’s stock after acquiring an additional 2,883,520 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Omnicom Group were worth $493,061,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OMC. Activest Wealth Management raised its stake in shares of Omnicom Group by 2,960.0% in the fourth 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 last quarter. Bayforest Capital Ltd purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC grew 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 worth $27,000 after buying an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew 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 worth $27,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Up 2.5%

Shares of Omnicom Group stock opened at $75.62 on Friday. The firm has a market cap of $21.55 billion, a PE ratio of 193.90, a P/E/G ratio of 0.44 and a beta of 0.63. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The stock has a fifty day moving average price of $75.46 and a 200-day moving average price of $76.57.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share 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 company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the firm earned $1.70 EPS. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group announced that its board has approved a share repurchase program on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on OMC. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday. They issued a “buy” rating and a $146.00 price objective for the company. Finally, UBS Group increased their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.00.

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.