Mediolanum International Funds Ltd Increases Position in Omnicom Group Inc. (NYSE:OMC)

Key Points

• Mediolanum International Funds Ltd increased its stake in Omnicom Group Inc. by 117.0%, acquiring an additional 16,980 shares in the first quarter, bringing its total holdings to 31,488 shares valued at $2.5 million.
• Several institutional investors also boosted their positions in Omnicom Group, with a total of 91.97% of the stock currently owned by institutional investors.
• Omnicom Group recently announced a quarterly dividend of $0.70 per share, which will be paid on October 10th, reflecting a 3.66% yield.

Mediolanum International Funds Ltd increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 117.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,488 shares of the business services provider's stock after buying an additional 16,980 shares during the period. Mediolanum International Funds Ltd's holdings in Omnicom Group were worth $2,527,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. increased its stake in Omnicom Group by 153.8% during the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares during the period. Versant Capital Management Inc increased its position in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $47,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on OMC shares. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Citigroup reaffirmed a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Stock Performance

NYSE:OMC traded down $0.31 during trading hours on Thursday, reaching $72.34. 1,100,629 shares of the company's stock were exchanged, compared to its average volume of 3,640,647. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.48 and a beta of 0.92. The company has a 50-day moving average of $72.62 and a 200 day moving average of $77.49. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter last year, the business earned $1.95 EPS. The business's revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.