CANADA LIFE ASSURANCE Co Purchases 4,648 Shares of Omnicom Group Inc. (NYSE:OMC)

CANADA LIFE ASSURANCE Co increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,135 shares of the business services provider's stock after buying an additional 4,648 shares during the period. CANADA LIFE ASSURANCE Co owned 0.15% of Omnicom Group worth $24,950,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Omnicom Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock valued at $1,982,518,000 after acquiring an additional 99,424 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Omnicom Group by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider's stock valued at $577,732,000 after purchasing an additional 156,438 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Omnicom Group by 50.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after buying an additional 1,992,695 shares during the period. Geode Capital Management LLC boosted its holdings in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after buying an additional 51,148 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in shares of Omnicom Group by 7.1% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock worth $292,698,000 after buying an additional 224,870 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OMC shares. Citigroup reiterated a "buy" rating and issued a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays reduced their price target on shares of Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Argus cut Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, UBS Group dropped their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of "Moderate Buy" and a consensus target price of $101.29.

Omnicom Group Stock Up 4.3 %

Omnicom Group stock traded up $3.17 during midday trading on Thursday, reaching $76.42. The stock had a trading volume of 3,279,114 shares, compared to its average volume of 2,192,799. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The firm's fifty day simple moving average is $79.04 and its 200-day simple moving average is $88.88. The stock has a market capitalization of $15.02 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. As a group, analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, March 11th. Omnicom Group's payout ratio is 38.30%.

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.