Omnicom Group Inc. $OMC Stake Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its Omnicom Group stake by 70% in the fourth quarter, ending with 674,065 shares valued at about $54.8 million.
• Omnicom reported better-than-expected quarterly results, posting $1.90 EPS versus the $1.84 estimate and revenue of $6.24 billion versus the $5.85 billion forecast.
• The company also authorized a $5 billion share repurchase program and declared a quarterly dividend of $0.80 per share, implying an annual yield of 4.2%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 70.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 674,065 shares of the business services provider's stock after buying an additional 277,665 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.35% of Omnicom Group worth $54,815,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OMC. EverSource Wealth Advisors LLC raised its holdings in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock valued at $138,000 after buying an additional 869 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in Omnicom Group during the second quarter valued at about $241,000. Gabelli Funds LLC bought a new position in Omnicom Group during the second quarter valued at about $1,061,000. Daiwa Securities Group Inc. raised its holdings in Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock valued at $2,113,000 after buying an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock valued at $25,990,000 after buying an additional 44,746 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a report on Thursday, January 22nd. Citigroup cut their target price on Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. UBS Group raised their target price on Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a report on Friday, March 20th. Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Finally, Barclays raised their target price on Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $93.71.

Omnicom Group Trading Up 0.2%

Omnicom Group stock opened at $77.04 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The business's 50-day simple moving average is $78.07 and its 200-day simple moving average is $76.78. The firm has a market capitalization of $21.96 billion, a PE ratio of 197.55, a PEG ratio of 0.46 and a beta of 0.66. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17.

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

Omnicom Group announced that its board has authorized a share repurchase program on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Omnicom Group Dividend Announcement

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

Omnicom Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.