KLP Kapitalforvaltning AS Purchases Shares of 113,588 Omnicom Group Inc. (NYSE:OMC)

KLP Kapitalforvaltning AS purchased a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 113,588 shares of the business services provider's stock, valued at approximately $9,842,000. KLP Kapitalforvaltning AS owned 0.06% of Omnicom Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Trail Advisors LLC raised its position in shares of Omnicom Group by 1.8% during the third quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider's stock valued at $683,000 after buying an additional 113 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its position in Omnicom Group by 3.5% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 3,870 shares of the business services provider's stock valued at $400,000 after acquiring an additional 130 shares during the last quarter. Center For Asset Management LLC raised its holdings in shares of Omnicom Group by 3.3% in the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider's stock valued at $389,000 after purchasing an additional 146 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider's stock worth $105,000 after buying an additional 147 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Omnicom Group by 6.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,523 shares of the business services provider's stock worth $217,000 after purchasing an additional 161 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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Omnicom Group Trading Down 0.6 %

Omnicom Group stock traded down $0.52 during midday trading on Thursday, hitting $80.62. 538,160 shares of the stock were exchanged, compared to its average volume of 1,923,223. Omnicom Group Inc. has a fifty-two week low of $78.69 and a fifty-two week high of $107.00. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.94 and a beta of 0.98. The stock's 50-day simple moving average is $83.45 and its 200 day simple moving average is $92.73. 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 (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping 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 quarter in the previous year, the company posted $2.20 earnings per share. On average, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, March 11th. Omnicom Group's payout ratio is currently 37.58%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMC. UBS Group reduced their target price 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. Macquarie reiterated an "outperform" rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Argus cut shares of Omnicom Group from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Barclays dropped their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Finally, Wells Fargo & Company decreased their target price on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $105.75.

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.