Point72 Asset Management L.P. Has $100.48 Million Stock Position in Omnicom Group Inc. (NYSE:OMC)

Point72 Asset Management L.P. raised its holdings in Omnicom Group Inc. (NYSE:OMCFree Report) by 88.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,161,477 shares of the business services provider’s stock after buying an additional 546,577 shares during the period. Point72 Asset Management L.P. owned about 0.59% of Omnicom Group worth $100,479,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Point72 Europe London LLP bought a new position in shares of Omnicom Group in the fourth quarter valued at about $557,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Omnicom Group by 5.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 973,325 shares of the business services provider’s stock valued at $84,202,000 after buying an additional 54,300 shares in the last quarter. Dean Capital Management increased its position in Omnicom Group by 19.4% during the 4th quarter. Dean Capital Management now owns 17,151 shares of the business services provider’s stock worth $1,484,000 after buying an additional 2,782 shares during the period. Junto Capital Management LP bought a new stake in shares of Omnicom Group in the fourth quarter valued at about $43,502,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Omnicom Group in the fourth quarter valued at about $93,634,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, March 28th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. Finally, Moffett Nathanson increased their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Check Out Our Latest Report on Omnicom Group

Omnicom Group Price Performance

OMC traded down $0.33 on Tuesday, reaching $89.63. The stock had a trading volume of 1,391,351 shares, compared to its average volume of 1,577,815. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The firm has a 50-day moving average of $93.52 and a 200-day moving average of $90.15.

Omnicom Group (NYSE:OMCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.58 billion. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 7.84 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be paid a $0.70 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. Omnicom Group’s dividend payout ratio is 37.84%.

Insider Activity at Omnicom Group

In other news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

About Omnicom Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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