Danica Pension Livsforsikringsaktieselskab Invests $8.99 Million in Omnicom Group Inc. $OMC

Key Points

• Danica Pension acquired 123,410 Omnicom Group shares worth approximately $8.99 million during the second quarter. Institutional investors collectively own 91.97% of OMC’s outstanding stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $99.00. Individual targets range from $83 to $100.
• Omnicom reported quarterly revenue of $6.56 billion, exceeding estimates, while EPS of $2.65 narrowly missed expectations. The company declared a quarterly dividend of $0.80 per share, representing a 3.7% annualized yield.

Danica Pension Livsforsikringsaktieselskab acquired a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,410 shares of the business services provider's stock, valued at approximately $8,988,000.

Other institutional investors have also modified their holdings of the company. Danske Bank A S acquired a new position in Omnicom Group during the second quarter worth about $25,056,000. Diversify Advisory Services LLC bought a new stake in Omnicom Group in the second quarter worth about $312,000. Wealthfront Advisers LLC acquired a new stake in Omnicom Group in the 2nd quarter valued at about $2,431,000. Foster & Motley Inc. acquired a new stake in Omnicom Group in the 2nd quarter valued at about $4,503,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of Omnicom Group by 8.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 39,404 shares of the business services provider's stock valued at $2,870,000 after purchasing an additional 3,197 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on OMC. Morgan Stanley boosted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price target on the stock. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. Finally, Citigroup reduced their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Four equities 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 stock. According to MarketBeat, Omnicom Group currently has a consensus rating of "Hold" and a consensus price target of $99.00.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $86.40 on Wednesday. The company's fifty day moving average is $79.62 and its two-hundred day moving average is $77.34. 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 $88.55. The company has a market cap of $23.70 billion, a P/E ratio of 74.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its 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 return on equity of 24.73% and a net margin of 1.74%.The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the business earned $2.05 EPS. The business's quarterly revenue was up 63.4% on a year-over-year basis. Equities analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. Omnicom Group's dividend payout ratio (DPR) is presently 275.86%.

Omnicom Group Company 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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