Munich Reinsurance Co Stock Corp in Munich Buys New Shares in Omnicom Group Inc. $OMC

Munich Reinsurance Co Stock Corp in Munich bought a new position in Omnicom Group Inc. (NYSE:OMC) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 16,373 shares of the business services provider’s stock, valued at approximately $1,233,000.

Several other hedge funds have also added to or reduced their stakes in the business. Activest Wealth Management grew its holdings in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Omnicom Group during the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group during the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID boosted its position in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG bought a new stake in Omnicom Group in the 4th quarter worth $28,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

OMC stock opened at $80.89 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The firm has a 50-day moving average of $75.17 and a 200 day moving average of $76.69. The company has a market cap of $23.06 billion, a P/E ratio of 207.43, a PEG ratio of 0.47 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm posted $1.70 EPS. The business’s revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 10th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. Omnicom Group’s payout ratio is currently 820.51%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OMC. Morgan Stanley boosted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Rothschild & Co Redburn started coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Argus upgraded Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Finally, UBS Group upped their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and a consensus target price of $99.38.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.