Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 688,186 Omnicom Group Inc. $OMC

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 688,186 shares of the business services provider’s stock, valued at approximately $50,122,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Omnicom Group as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OMC. Vanguard Group Inc. lifted its position in Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after buying an additional 15,220,444 shares during the period. State Street Corp boosted its stake in Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Omnicom Group in the 2nd quarter valued at about $914,156,000. Geode Capital Management LLC grew its holdings in Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after buying an additional 3,117,188 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Omnicom Group by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock valued at $512,927,000 after acquiring an additional 33,557 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.2%

Shares of NYSE:OMC opened at $87.38 on Thursday. The stock has a 50-day simple moving average of $79.89 and a 200-day simple moving average of $77.43. The stock has a market capitalization of $23.97 billion, a P/E ratio of 75.33, a PEG ratio of 0.57 and a beta of 0.64. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $88.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Equities analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OMC shares. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Wells Fargo & Company upped their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citigroup cut their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $99.00.

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.