Aigen Investment Management LP Takes $3.22 Million Position in Omnicom Group Inc. $OMC

Key Points

• Aigen Investment Management initiated a new position in Omnicom Group, buying 39,833 shares worth about $3.22 million in the fourth quarter. The stake represents 0.8% of Aigen’s portfolio and is its 20th largest holding.
• Omnicom reported better-than-expected quarterly results, posting EPS of $1.90 versus analyst estimates of $1.84 and revenue of $6.24 billion, above consensus. The company also said revenue jumped 69.2% year over year.
• The company approved a $5 billion share repurchase program and declared a quarterly dividend of $0.80 per share, implying an annualized yield of 4.2%. Analysts currently have a consensus Hold rating with an average price target of $99.00.

Aigen Investment Management LP bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 39,833 shares of the business services provider's stock, valued at approximately $3,217,000. Omnicom Group comprises 0.8% of Aigen Investment Management LP's investment portfolio, making the stock its 20th largest position.

Several other large investors have also recently made changes to their positions in the business. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Omnicom Group by 4.1% during the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock valued at $305,000 after purchasing an additional 147 shares during the last quarter. Wakefield Asset Management LLLP raised its holdings in Omnicom Group by 2.6% in the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock worth $477,000 after acquiring an additional 149 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in Omnicom Group by 27.0% in the 4th quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock worth $62,000 after acquiring an additional 162 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its holdings in Omnicom Group by 3.5% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider's stock worth $395,000 after acquiring an additional 167 shares during the last quarter. Finally, Binnacle Investments Inc raised its holdings in Omnicom Group by 17.7% in the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider's stock worth $81,000 after acquiring an additional 169 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 1.2%

NYSE:OMC opened at $76.52 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. 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 $21.81 billion, a PE ratio of 196.21, a price-to-earnings-growth ratio of 0.46 and a beta of 0.63. The company has a 50 day simple moving average of $75.49 and a two-hundred day simple moving average of $76.65.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 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 business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the firm posted $1.70 EPS. The firm's revenue was up 69.2% on a year-over-year basis. Research analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

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 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 generally an indication that the company's management believes its stock is undervalued.

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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group's payout ratio is 820.51%.

Analyst Ratings Changes

A number of brokerages recently weighed in on OMC. 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 price objective for the company. UBS Group boosted their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Friday, March 20th. The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price objective for the company. Argus upgraded shares of Omnicom Group to a "hold" rating in a report on Thursday, March 26th. Finally, Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $99.00.

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.

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