Meiji Yasuda Asset Management Co Ltd. Boosts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 47.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,705 shares of the business services provider’s stock after buying an additional 9,617 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Omnicom Group were worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Center For Asset Management LLC raised its position in shares of Omnicom Group by 2.6% during the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after acquiring an additional 107 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock worth $413,000 after purchasing an additional 119 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Omnicom Group by 18.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $70,000 after purchasing an additional 119 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Omnicom Group by 2.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock valued at $594,000 after buying an additional 122 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Omnicom Group by 1.8% in the 2nd quarter. Parallel Advisors LLC now owns 7,184 shares of the business services provider’s stock valued at $644,000 after buying an additional 126 shares in 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 recently weighed in on the stock. UBS Group boosted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Macquarie reissued an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, Bank of America upped their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One 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’s stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $106.30.

Insider Transactions at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC stock opened at $102.61 on Thursday. The stock’s 50-day moving average price is $96.11 and its 200 day moving average price is $93.87. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $20.09 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $103.58.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Omnicom Group’s payout ratio is currently 37.84%.

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.