The Manufacturers Life Insurance Company Purchases 158,281 Shares of Omnicom Group Inc. $OMC

Key Points

• The Manufacturers Life Insurance Company increased its stake in Omnicom Group by 21.1%, owning approximately 0.47% of the company worth $75.27 million following the acquisition of an additional 158,281 shares.
• Omnicom Group reported earnings of $2.05 per share for the last quarter, surpassing expectations and reflecting a 4.2% year-over-year revenue growth to $4.02 billion.
• The company declared a quarterly dividend of $0.70 per share, set to be paid on October 10th, representing an annualized dividend yield of 3.6%.

The Manufacturers Life Insurance Company raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 907,787 shares of the business services provider's stock after purchasing an additional 158,281 shares during the period. The Manufacturers Life Insurance Company owned 0.47% of Omnicom Group worth $75,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the first quarter valued at about $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group in the first quarter valued at approximately $36,000. Versant Capital Management Inc boosted its stake in shares of Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

OMC stock traded up $0.48 during trading on Wednesday, hitting $77.41. The company had a trading volume of 2,740,407 shares, compared to its average volume of 3,633,059. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.55 and a beta of 0.97. The business has a 50 day moving average of $74.52 and a 200 day moving average of $75.86. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97.

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, topping analysts' consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. As a group, research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group's dividend payout ratio is currently 40.17%.

Analyst Ratings Changes

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

About Omnicom Group

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.