Swedbank AB Raises Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Swedbank AB increased its stake in Omnicom Group Inc. by 17.0%, acquiring an additional 9,003 shares, raising its total holdings to 62,054 shares valued at approximately $4.46 million.
• Several institutional investors, including Vise Technologies and Toronto Dominion Bank, have recently adjusted their positions in Omnicom Group, reflecting a high level of institutional investment in the company, which stands at 91.97% ownership.
• Analysts have mixed views on Omnicom Group's stock, with recent cuts in price targets by firms like Barclays and Wells Fargo, while an average rating of "Moderate Buy" has been assigned with an average target price of $94.43.

Swedbank AB boosted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,054 shares of the business services provider's stock after purchasing an additional 9,003 shares during the period. Swedbank AB's holdings in Omnicom Group were worth $4,464,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Robinson Value Management Ltd. increased its stake in Omnicom Group by 0.4% in the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock worth $2,837,000 after purchasing an additional 139 shares during the period. Versant Capital Management Inc grew its position in shares of 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 during the last quarter. Mezzasalma Advisors LLC grew its position in shares of Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock worth $443,000 after buying an additional 159 shares during the last quarter. Financial Advisors Network Inc. grew its position in shares of Omnicom Group by 6.1% in the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock worth $228,000 after buying an additional 159 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Omnicom Group by 0.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock worth $1,834,000 after buying an additional 165 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OMC shares. JPMorgan Chase & Co. cut their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company cut their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. Finally, Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Stock Down 0.5%

Shares of OMC stock traded down $0.38 during mid-day trading on Monday, hitting $74.63. The company's stock had a trading volume of 2,450,717 shares, compared to its average volume of 3,172,035. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The business has a 50-day moving average price of $75.60 and a 200 day moving average price of $75.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.49 and a beta of 0.97.

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

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is 40.17%.

Omnicom Group Company 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.