Y Intercept Hong Kong Ltd Acquires Shares of 10,437 Omnicom Group Inc. (NYSE:OMC)

Y Intercept Hong Kong Ltd purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,437 shares of the business services provider’s stock, valued at approximately $898,000.

A number of other large investors have also recently made changes to their positions in OMC. Private Advisor Group LLC boosted its holdings in shares of Omnicom Group by 2.7% in the third quarter. Private Advisor Group LLC now owns 12,563 shares of the business services provider’s stock worth $1,299,000 after acquiring an additional 325 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Omnicom Group by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,296 shares of the business services provider’s stock worth $1,983,000 after buying an additional 5,325 shares in the last quarter. State of Alaska Department of Revenue raised its position in Omnicom Group by 5.2% during the third quarter. State of Alaska Department of Revenue now owns 25,234 shares of the business services provider’s stock valued at $2,608,000 after purchasing an additional 1,255 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Omnicom Group by 4.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,614 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 198 shares in the last quarter. Finally, abrdn plc raised its position in Omnicom Group by 40.4% during the third quarter. abrdn plc now owns 77,152 shares of the business services provider’s stock valued at $7,943,000 after purchasing an additional 22,210 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on OMC. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Barclays decreased their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Stock Performance

OMC stock opened at $81.75 on Friday. The stock’s 50 day simple moving average is $84.99 and its 200 day simple moving average is $94.91. The stock has a market capitalization of $16.06 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Omnicom Group Inc. has a 12-month low of $80.31 and a 12-month high of $107.00.

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

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Omnicom Group’s payout ratio is 37.58%.

Omnicom Group Company 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.