Nykredit A S Acquires Shares of 1,272,277 Omnicom Group Inc. $OMC

Key Points

• Nykredit A/S acquired 1.27 million Omnicom shares worth approximately $92.7 million, representing a 0.46% stake. Institutional investors collectively own 91.97% of OMC.
• Analysts have a consensus “Hold” rating with a $99 price target, compared with the stock’s recent price of $78.63. Ratings include four Buys, five Holds and two Sells.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year, though earnings of $2.65 per share slightly missed estimates. The company declared a quarterly dividend of $0.80 per share, yielding approximately 4.1% annually.

Nykredit A S acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,272,277 shares of the business services provider's stock, valued at approximately $92,660,000. Nykredit A S owned 0.46% of Omnicom Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Corient Private Wealth LP grew its holdings in Omnicom Group by 2.7% in the 2nd quarter. Corient Private Wealth LP now owns 115,326 shares of the business services provider's stock worth $8,400,000 after acquiring an additional 3,000 shares during the last quarter. Amundi raised its stake in shares of Omnicom Group by 40.0% during the second quarter. Amundi now owns 1,360,280 shares of the business services provider's stock valued at $99,067,000 after acquiring an additional 388,581 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Omnicom Group by 0.5% during the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider's stock valued at $534,806,000 after acquiring an additional 40,096 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Omnicom Group during the second quarter worth about $228,000. Finally, Saudi Central Bank boosted its holdings in shares of Omnicom Group by 71.8% during the second quarter. Saudi Central Bank now owns 19,949 shares of the business services provider's stock worth $1,453,000 after purchasing an additional 8,337 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company's stock, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OMC. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Citigroup cut their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Argus raised Omnicom Group to a "hold" rating in a research note on Monday. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price for the company. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Omnicom Group presently has a consensus rating of "Hold" and a consensus target price of $99.00.

Omnicom Group Price Performance

OMC stock opened at $78.63 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The company has a market cap of $21.57 billion, a P/E ratio of 67.79, a PEG ratio of 0.67 and a beta of 0.65. The firm has a 50-day moving average of $83.21 and a 200 day moving average of $78.77. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC - Get Free Report) last posted 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). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The business's revenue was up 63.4% compared to the same quarter last year. On average, sell-side analysts forecast that Omnicom Group Inc. will post 10.5 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. Omnicom Group's payout ratio is currently 275.86%.

Omnicom Group Company Profile

Omnicom Group Inc NYSE: OMC is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom's agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.

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