Swiss National Bank Increases Holdings in Omnicom Group Inc. $OMC

Key Points

• Swiss National Bank increased its Omnicom Group stake by 5.3% in the first quarter, bringing its holdings to 923,271 shares valued at about $69.5 million.
• Omnicom reported better-than-expected Q1 earnings, with EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion expected.
• The company declared a quarterly dividend of $0.80 per share payable on October 9, implying an annualized yield of about 4.0%, while analysts currently rate the stock a consensus Hold with a $99.38 price target.

Swiss National Bank lifted its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 923,271 shares of the business services provider's stock after acquiring an additional 46,800 shares during the period. Swiss National Bank owned 0.32% of Omnicom Group worth $69,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider's stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares during the period. State Street Corp increased its holdings in shares of Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider's stock worth $911,172,000 after buying an additional 4,631,394 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Omnicom Group by 522.9% in the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider's stock worth $419,858,000 after buying an additional 4,364,797 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock valued at $690,327,000 after buying an additional 3,117,188 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have weighed in on OMC shares. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price target for the company. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price for the company. Morgan Stanley raised their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Argus upgraded shares of Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Omnicom Group has an average rating of "Hold" and a consensus price target of $99.38.

Omnicom Group Stock Down 4.0%

Shares of NYSE:OMC opened at $79.11 on Wednesday. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 202.85, a PEG ratio of 0.49 and a beta of 0.63. 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. The company has a 50-day moving average price of $76.00 and a 200 day moving average price of $76.78.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. Omnicom Group's payout ratio is currently 820.51%.

Omnicom Group 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.

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