215,068 Shares in Omnicom Group Inc. $OMC Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 215,068 shares of the business services provider’s stock, valued at approximately $16,197,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Omnicom Group in the 2nd quarter worth about $241,000. Gabelli Funds LLC purchased a new stake in Omnicom Group during the 2nd quarter worth approximately $1,061,000. Daiwa Securities Group Inc. raised its holdings in shares of Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after acquiring an additional 44,746 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OMC shares. Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Finally, Citigroup lowered their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Trading Up 0.8%

OMC opened at $82.40 on Tuesday. 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 company’s 50 day simple moving average is $75.93 and its two-hundred day simple moving average is $76.80. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 211.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63.

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

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. Omnicom Group’s payout ratio is 820.51%.

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.