Danica Pension Livsforsikringsaktieselskab Makes New $8.74 Million Investment in Omnicom Group Inc. $OMC

Key Points

• Danica Pension disclosed a new position in Omnicom Group, buying 116,077 shares valued at about $8.74 million in the first quarter.
• Other major institutional investors also increased their Omnicom stakes, and institutions now own 91.97% of the company’s stock.
• Omnicom recently beat quarterly earnings and revenue estimates and announced a $0.80 quarterly dividend, implying an annualized yield of about 4.0%.

Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 116,077 shares of the business services provider's stock, valued at approximately $8,742,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider's stock valued at $3,143,930,000 after acquiring an additional 15,220,444 shares during the period. State Street Corp increased its stake in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares during the period. Bank of New York Mellon Corp increased its stake in Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider's stock worth $911,172,000 after purchasing an additional 4,631,394 shares during the period. Wellington Management Group LLP lifted its position in shares of Omnicom Group by 522.9% during the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider's stock worth $419,858,000 after purchasing an additional 4,364,797 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock worth $690,327,000 after purchasing an additional 3,117,188 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OMC. Morgan Stanley upped their price target 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 report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective for the company. Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Omnicom Group in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price on the stock. Four equities 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 data from MarketBeat, Omnicom Group presently has a consensus rating of "Hold" and a consensus target price of $99.38.

Omnicom Group Price Performance

OMC opened at $79.41 on Thursday. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 203.62, a PEG ratio of 0.47 and a beta of 0.63. 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 business's fifty day simple moving average is $76.10 and its 200-day simple moving average is $76.77.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the company posted $1.70 earnings per share. The firm's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share 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 given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group's dividend payout ratio (DPR) is 820.51%.

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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