Danske Bank A S Purchases Shares of 344,035 Omnicom Group Inc. $OMC

Key Points

• Danske Bank A/S acquired 344,035 Omnicom Group shares during the second quarter, valued at approximately $25.1 million and representing about 0.13% of the company. Institutional investors collectively own 91.97% of OMC.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $99.00. Recent targets range from $83 to $146.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year, but narrowly missed earnings estimates with EPS of $2.65 versus $2.67 expected. The company declared a quarterly dividend of $0.80 per share, yielding about 3.7% annually.

Danske Bank A S purchased a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 344,035 shares of the business services provider's stock, valued at approximately $25,056,000. Danske Bank A S owned about 0.13% of Omnicom Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in OMC. Activest Wealth Management lifted its position in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its position in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG acquired a new position in shares of Omnicom Group during the fourth quarter worth approximately $28,000. 91.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OMC. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price for the company. Citigroup reduced their price target on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, five have given 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 an average price target of $99.00.

Omnicom Group Trading Up 1.2%

Omnicom Group stock opened at $87.38 on Thursday. The business has a 50 day moving average price of $79.89 and a two-hundred day moving average price of $77.43. 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 stock has a market cap of $23.97 billion, a price-to-earnings ratio of 75.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group's revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. As a group, equities analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared 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. 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 payout ratio is currently 275.86%.

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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