Omnicom Group Inc. $OMC Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 70.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,012 shares of the business services provider's stock after purchasing an additional 16,989 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Omnicom Group were worth $3,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of Omnicom Group during the 4th quarter worth about $230,000. Wolverine Asset Management LLC acquired a new position in shares of Omnicom Group during the 4th quarter worth about $92,000. Varma Mutual Pension Insurance Co acquired a new position in shares of Omnicom Group during the 4th quarter worth about $10,118,000. Truist Financial Corp boosted its position in shares of Omnicom Group by 21.9% during the 4th quarter. Truist Financial Corp now owns 150,909 shares of the business services provider's stock worth $12,186,000 after acquiring an additional 27,067 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC boosted its position in shares of Omnicom Group by 3.5% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider's stock worth $395,000 after acquiring an additional 167 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OMC shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Barclays upped their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Citigroup reduced their price objective on Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Finally, UBS Group upped their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $93.71.

Omnicom Group Stock Performance

Shares of OMC stock opened at $77.04 on Friday. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 197.55, a price-to-earnings-growth ratio of 0.46 and a beta of 0.66. The stock has a 50 day simple moving average of $78.07 and a 200-day simple moving average of $76.78. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 EPS. On average, equities analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group declared that its board has authorized a stock repurchase plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is presently 820.51%.

About Omnicom Group

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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