GAMMA Investing LLC Invests $338,000 in Omnicom Group Inc. (NYSE:OMC)

GAMMA Investing LLC acquired a new position in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,737 shares of the business services provider’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 8.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock valued at $353,437,000 after buying an additional 374,874 shares during the period. Boston Partners grew its position in Omnicom Group by 21.7% during the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after buying an additional 664,800 shares during the period. Lazard Asset Management LLC lifted its holdings in Omnicom Group by 98.3% during the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock valued at $225,842,000 after purchasing an additional 1,503,249 shares in the last quarter. Northern Trust Corp lifted its holdings in Omnicom Group by 13.2% during the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock valued at $192,976,000 after purchasing an additional 301,927 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Omnicom Group by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,894,753 shares of the business services provider’s stock valued at $141,121,000 after purchasing an additional 58,943 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OMC shares. UBS Group started coverage on shares of Omnicom Group in a report on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective on the stock. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, March 28th. Macquarie raised their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Barclays raised their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.40.

Omnicom Group Stock Up 1.9 %

Shares of Omnicom Group stock opened at $95.98 on Thursday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a 50 day moving average of $92.04 and a 200 day moving average of $85.85. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $18.80 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.21 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 8th. This represents a $2.80 annualized dividend and a dividend yield of 2.92%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the sale, the director now owns 9,753 shares in the company, valued at approximately $845,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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.