Assetmark Inc. Increases Position in Omnicom Group Inc. (NYSE:OMC)

Assetmark Inc. increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 538,813 shares of the business services provider’s stock after buying an additional 49,774 shares during the quarter. Assetmark Inc.’s holdings in Omnicom Group were worth $46,359,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OMC. Keybank National Association OH lifted its position in Omnicom Group by 25.6% during the fourth quarter. Keybank National Association OH now owns 19,820 shares of the business services provider’s stock valued at $1,705,000 after purchasing an additional 4,035 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Omnicom Group by 40.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,012 shares of the business services provider’s stock valued at $946,000 after purchasing an additional 3,147 shares during the period. SBI Securities Co. Ltd. acquired a new position in Omnicom Group during the fourth quarter valued at $78,000. Jones Financial Companies Lllp lifted its position in Omnicom Group by 47.1% during the fourth quarter. Jones Financial Companies Lllp now owns 52,011 shares of the business services provider’s stock valued at $4,475,000 after purchasing an additional 16,644 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Omnicom Group in the fourth quarter worth about $299,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

NYSE OMC opened at $82.25 on Thursday. The company has a market cap of $16.16 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a 50-day moving average of $84.55 and a two-hundred day moving average of $94.53. Omnicom Group Inc. has a 1-year low of $79.57 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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 prior year, the firm earned $2.20 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is presently 37.58%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OMC. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. Barclays decreased their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given 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 price target of $108.25.

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.