Norinchukin Bank The Increases Holdings in Omnicom Group Inc. $OMC

Key Points

• Norinchukin Bank The increased its stake in Omnicom Group Inc. by 22.6% in the first quarter, owning a total of 17,812 shares valued at $1,477,000.
• Omnicom Group announced a quarterly dividend of $0.70, representing an annualized payout of $2.80 and a dividend yield of 3.5%.
• Several analysts have downgraded their price targets for Omnicom Group, with Bank of America adjusting its target to $80.00 and Wells Fargo setting it at $78.00.

Norinchukin Bank The raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,812 shares of the business services provider's stock after buying an additional 3,278 shares during the period. Norinchukin Bank The's holdings in Omnicom Group were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Robinson Value Management Ltd. increased its stake in shares of Omnicom Group by 0.4% in the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock worth $2,837,000 after purchasing an additional 139 shares in the last quarter. Versant Capital Management Inc increased its stake 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 worth $38,000 after purchasing an additional 143 shares in the last quarter. MGO One Seven LLC increased its stake in shares of Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock worth $437,000 after purchasing an additional 157 shares in the last quarter. Mezzasalma Advisors LLC increased its stake in shares of Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock worth $443,000 after purchasing an additional 159 shares in the last quarter. Finally, Financial Advisors Network Inc. increased its stake in shares of Omnicom Group by 6.1% in the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock worth $228,000 after purchasing an additional 159 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 2.6%

Shares of Omnicom Group stock opened at $79.5280 on Friday. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.58 and a beta of 0.94. The business has a 50-day moving average price of $73.44 and a 200-day moving average price of $76.07. 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 twelve month low of $68.37 and a twelve month high of $107.00.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, June 23rd. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company dropped their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Finally, Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.