CANADA LIFE ASSURANCE Co Raises Stake in Omnicom Group Inc. (NYSE:OMC)

CANADA LIFE ASSURANCE Co increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 238,274 shares of the business services provider’s stock after purchasing an additional 5,615 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Omnicom Group were worth $23,079,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. HB Wealth Management LLC increased its stake in Omnicom Group by 21.4% in the 4th quarter. HB Wealth Management LLC now owns 3,342 shares of the business services provider’s stock worth $289,000 after acquiring an additional 588 shares during the last quarter. Raymond James & Associates increased its stake in Omnicom Group by 3.3% in the 4th quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after acquiring an additional 13,709 shares during the last quarter. Pacer Advisors Inc. increased its stake in Omnicom Group by 19.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,460 shares of the business services provider’s stock worth $1,337,000 after acquiring an additional 2,565 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Omnicom Group by 0.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 384,787 shares of the business services provider’s stock worth $33,288,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Tectonic Advisors LLC increased its stake in Omnicom Group by 6.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,886 shares of the business services provider’s stock worth $336,000 after acquiring an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In related news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Trading Up 2.8 %

NYSE OMC opened at $93.33 on Friday. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $98.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a 50 day simple moving average of $91.39 and a two-hundred day simple moving average of $91.47. The stock has a market cap of $18.26 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 EPS. On average, analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s payout ratio is presently 37.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OMC. JPMorgan Chase & Co. increased their price objective on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.70.

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.