Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 118.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,623 shares of the business services provider’s stock after buying an additional 74,684 shares during the period. Korea Investment CORP owned approximately 0.07% of Omnicom Group worth $11,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Omnicom Group during the fourth quarter worth about $79,321,000. State Street Corp grew its position in Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. World Investment Advisors LLC increased its stake in Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock valued at $39,645,000 after purchasing an additional 374,952 shares in the last quarter. Arvest Bank Trust Division purchased a new position in shares of Omnicom Group in the third quarter worth $21,191,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock worth $577,732,000 after buying an additional 156,438 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Barclays decreased their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $104.43.

Omnicom Group Price Performance

NYSE:OMC opened at $80.24 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The company has a 50 day moving average price of $83.24 and a 200-day moving average price of $92.43. Omnicom Group Inc. has a 1-year low of $78.69 and a 1-year high of $107.00. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same period in the previous year, the business earned $2.20 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.49%. Omnicom Group’s dividend payout ratio is currently 37.58%.

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.