SEB Asset Management AB Buys New Shares in Omnicom Group Inc. $OMC

Key Points

• SEB Asset Management AB opened a new position in Omnicom Group during the first quarter, buying 215,068 shares valued at about $16.2 million. The stake represented roughly 0.08% of the company.
• Omnicom reported better-than-expected quarterly results, posting EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion estimated. Revenue rose sharply year over year, and analysts now expect full-year EPS of 10.97.
• The company announced a quarterly dividend of $0.80 per share, equal to an annualized yield of about 3.9%. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and an average price target of $99.38.

SEB Asset Management AB bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 215,068 shares of the business services provider's stock, valued at approximately $16,197,000. SEB Asset Management AB owned about 0.08% of Omnicom Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Activest Wealth Management raised its stake in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group during the fourth quarter worth about $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID boosted its position in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new position in Omnicom Group in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Get Omnicom Group SMS alerts:

Sign Up

Omnicom Group Trading Up 0.8%

Shares of Omnicom Group stock opened at $82.40 on Tuesday. The firm has a 50-day simple moving average of $75.93 and a two-hundred day simple moving average of $76.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The company has a market cap of $23.48 billion, a P/E ratio of 211.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63.

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

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's dividend payout ratio (DPR) is presently 820.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OMC shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Argus raised shares of Omnicom Group to a "hold" rating in a report on Thursday, March 26th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price objective on the stock. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price for the company. Finally, Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $99.38.

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.

Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC - Free Report).

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.