Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Omnicom Group Inc. (NYSE:OMC)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350,196 shares of the business services provider's stock after purchasing an additional 38,181 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Omnicom Group worth $29,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC raised its position in Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after purchasing an additional 4,690 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after buying an additional 913 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Omnicom Group during the first quarter valued at approximately $1,357,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock valued at $6,755,000 after buying an additional 7,665 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 0.6%

NYSE:OMC traded up $0.45 during midday trading on Friday, hitting $75.86. The stock had a trading volume of 576,654 shares, compared to its average volume of 3,643,483. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.52 and a beta of 0.94. The stock has a 50-day moving average of $72.75 and a 200 day moving average of $76.53. 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 (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. Omnicom Group's revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. Omnicom Group's dividend payout ratio is currently 40.17%.

Analysts Set New Price Targets

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

Omnicom Group Company Profile

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.