Sumitomo Mitsui Financial Group Inc. Acquires 6,844 Shares of Omnicom Group Inc. $OMC

Key Points

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Sumitomo Mitsui Financial Group Inc. lifted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 83.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,073 shares of the business services provider's stock after purchasing an additional 6,844 shares during the period. Sumitomo Mitsui Financial Group Inc.'s holdings in Omnicom Group were worth $1,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. increased its stake in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Omnicom Group in the 1st quarter worth $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the 1st quarter worth $36,000. Versant Capital Management Inc increased its stake in 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 buying an additional 143 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of OMC traded up $2.0480 during midday trading on Friday, hitting $79.5280. 4,736,853 shares of the company traded hands, compared to its average volume of 3,263,023. The firm has a 50 day moving average of $73.44 and a 200-day moving average of $76.13. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

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

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. cut their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Monday, June 23rd. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company cut their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.