Mirae Asset Global Investments Co. Ltd. Increases Holdings in Omnicom Group Inc. (NYSE:OMC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 92,528 shares of the business services provider’s stock after acquiring an additional 7,260 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Omnicom Group were worth $7,548,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Omnicom Group by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,964 shares of the business services provider’s stock worth $2,374,000 after acquiring an additional 1,284 shares during the last quarter. Aviva PLC increased its stake in Omnicom Group by 27.0% during the first quarter. Aviva PLC now owns 81,054 shares of the business services provider’s stock worth $6,880,000 after acquiring an additional 17,251 shares during the last quarter. Prudential PLC acquired a new stake in Omnicom Group during the first quarter worth $503,000. National Pension Service increased its stake in Omnicom Group by 644.1% during the first quarter. National Pension Service now owns 407,387 shares of the business services provider’s stock worth $34,579,000 after acquiring an additional 352,639 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Omnicom Group during the first quarter worth $929,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Macquarie raised their target price on Omnicom Group from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Morgan Stanley lifted their price objective on Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. StockNews.com assumed coverage on Omnicom Group in a research note on Thursday. They issued a “hold” rating for the company. Barclays lifted their price objective on Omnicom Group from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Omnicom Group currently has an average rating of “Hold” and a consensus price target of $99.86.

Insiders Place Their Bets

In other Omnicom Group news, CEO John Wren sold 100,000 shares of Omnicom Group stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $93.84, for a total transaction of $9,384,000.00. Following the completion of the sale, the chief executive officer now directly owns 328,448 shares of the company’s stock, valued at approximately $30,821,560.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Linda Johnson Rice sold 1,700 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $89.75, for a total value of $152,575.00. Following the completion of the sale, the director now directly owns 9,527 shares of the company’s stock, valued at approximately $855,048.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Wren sold 100,000 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $93.84, for a total value of $9,384,000.00. Following the completion of the sale, the chief executive officer now directly owns 328,448 shares of the company’s stock, valued at $30,821,560.32. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Omnicom Group Trading Down 1.0 %

NYSE:OMC opened at $93.30 on Monday. The firm has a market cap of $18.61 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. The stock has a fifty day moving average price of $91.36 and a 200 day moving average price of $86.27. Omnicom Group Inc. has a 12-month low of $61.31 and a 12-month high of $96.78. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.54.

Omnicom Group (NYSE:OMC – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.38 billion. Omnicom Group had a return on equity of 41.72% and a net margin of 9.57%. Omnicom Group’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.38 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 9th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, June 8th. Omnicom Group’s dividend payout ratio (DPR) is 42.11%.

About Omnicom Group

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Omnicom Group, Inc is a holding company, which engages in the provision of advertising, marketing and corporate communications services. Its agency networks operate in the advertising, marketing, and corporate communications services industry, which are organized into regions, which are the Americas, EMEA and Asia-Pacific.