Assenagon Asset Management S.A. Takes Position in Omnicom Group Inc. $OMC

Key Points

• Assenagon Asset Management acquired 129,043 Omnicom Group shares during the second quarter, valued at approximately $9.4 million. Institutional investors collectively own 91.97% of the company.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year and above estimates, but earnings per share of $2.65 narrowly missed the $2.67 consensus.
• The company declared a quarterly dividend of $0.80 per share, equivalent to a 3.7% yield, while analysts maintain an overall “Hold” rating with an average price target of $99.

Assenagon Asset Management S.A. acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 129,043 shares of the business services provider's stock, valued at approximately $9,398,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LBP AM SA grew its stake in shares of Omnicom Group by 24.2% in the 4th quarter. LBP AM SA now owns 149,672 shares of the business services provider's stock worth $12,086,000 after purchasing an additional 29,195 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider's stock valued at $7,976,000 after purchasing an additional 35,247 shares during the last quarter. Berger Financial Group Inc bought a new stake in Omnicom Group during the fourth quarter worth approximately $5,564,000. Generali Asset Management SPA SGR increased its holdings in shares of Omnicom Group by 346.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider's stock valued at $1,662,000 after buying an additional 15,966 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Omnicom Group by 70.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider's stock worth $54,815,000 after acquiring an additional 277,665 shares in the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $85.96 on Wednesday. The stock has a market cap of $23.58 billion, a PE ratio of 74.10, a price-to-earnings-growth ratio of 0.56 and a beta of 0.64. The business has a fifty day simple moving average of $78.46 and a 200-day simple moving average of $77.07. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.41.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm's quarterly revenue was up 63.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced 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. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's payout ratio is 275.86%.

Analyst Ratings Changes

OMC has been the topic of a number of recent analyst reports. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price on the stock. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target for the company. Morgan Stanley lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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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