CANADA LIFE ASSURANCE Co Acquires 4,648 Shares of Omnicom Group Inc. (NYSE:OMC)

CANADA LIFE ASSURANCE Co raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,135 shares of the business services provider's stock after purchasing an additional 4,648 shares during the period. CANADA LIFE ASSURANCE Co owned 0.15% of Omnicom Group worth $24,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMC. World Investment Advisors LLC lifted its stake in shares of Omnicom Group by 209.7% in the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider's stock worth $2,720,000 after acquiring an additional 17,815 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Omnicom Group by 19.7% during the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider's stock valued at $23,860,000 after acquiring an additional 38,022 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Omnicom Group by 15.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 376,701 shares of the business services provider's stock worth $32,411,000 after buying an additional 50,153 shares during the period. Arvest Bank Trust Division acquired a new position in shares of Omnicom Group during the third quarter valued at $21,191,000. Finally, Avanza Fonder AB acquired a new stake in shares of Omnicom Group in the 4th quarter worth approximately $1,544,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OMC. Barclays decreased their target price on Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Citigroup restated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group lowered their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $101.29.

Omnicom Group Trading Down 2.2 %

OMC stock traded down $1.65 during midday trading on Friday, hitting $74.72. The stock had a trading volume of 1,070,211 shares, compared to its average volume of 2,188,635. The firm has a market cap of $14.58 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. The business has a fifty day moving average price of $78.92 and a two-hundred day moving average price of $88.71. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. On average, sell-side analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.75%. Omnicom Group's payout ratio is currently 38.30%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.