National Bank of Canada FI Grows Position in Omnicom Group Inc. (NYSE:OMC)

National Bank of Canada FI increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 81.7% in the third quarter, Holdings Channel reports. The fund owned 101,683 shares of the business services provider’s stock after purchasing an additional 45,724 shares during the quarter. National Bank of Canada FI’s holdings in Omnicom Group were worth $10,513,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OMC. Bank of New York Mellon Corp lifted its stake in Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after acquiring an additional 892,494 shares during the period. State Street Corp lifted its stake in Omnicom Group by 5.7% in the third quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after acquiring an additional 759,980 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Omnicom Group in the second quarter worth about $56,177,000. Dimensional Fund Advisors LP lifted its stake in Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after acquiring an additional 364,665 shares during the period. Finally, Conning Inc. purchased a new stake in Omnicom Group in the second quarter worth about $32,484,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $92.46 on Wednesday. The firm has a market capitalization of $18.04 billion, a P/E ratio of 12.63, a PEG ratio of 2.32 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average price of $102.43 and a 200 day moving average price of $97.34. Omnicom Group Inc. has a 52 week low of $82.26 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the firm posted $1.86 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio is presently 38.25%.

Analysts Set New Price Targets

OMC has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. UBS Group raised their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.89.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. 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 insiders.

Omnicom Group 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.