KLP Kapitalforvaltning AS Takes Position in Omnicom Group Inc. (NYSE:OMC)

KLP Kapitalforvaltning AS bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 113,588 shares of the business services provider’s stock, valued at approximately $9,842,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. ST Germain D J Co. Inc. acquired a new position in shares of Omnicom Group during the 4th quarter worth about $25,000. Versant Capital Management Inc grew its holdings in Omnicom Group by 645.2% during the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after purchasing an additional 271 shares during the period. Venturi Wealth Management LLC increased its position in Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 195 shares during the last quarter. Whittier Trust Co. raised its stake in Omnicom Group by 194.6% in the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after buying an additional 323 shares during the period. Finally, Trust Co. of Vermont lifted its position in shares of Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after buying an additional 490 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OMC has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target 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. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. UBS Group reduced their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Macquarie reiterated an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, Barclays cut their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Omnicom Group Stock Down 2.1 %

Shares of OMC opened at $79.45 on Tuesday. The firm has a 50 day simple moving average of $83.62 and a two-hundred day simple moving average of $92.94. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. Omnicom Group Inc. has a one year low of $78.69 and a one year high of $107.00. The company has a market cap of $15.61 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.94 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates 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 company posted $2.20 earnings per share. Research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.52%. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

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.