Connor Clark & Lunn Investment Management Ltd. Invests $11.95 Million in Omnicom Group Inc. $OMC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 164,112 shares of the business services provider’s stock, valued at approximately $11,952,000.

Several other hedge funds have also recently added to or reduced their stakes in OMC. Activest Wealth Management grew its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Omnicom Group during the second quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the fourth quarter worth approximately $26,000. Legacy Wealth Managment LLC ID boosted its position in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. Finally, EFG International AG bought a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $28,000. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of a number of research reports. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $88.23 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The business’s fifty day moving average price is $80.81 and its two-hundred day moving average price is $77.86. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The stock has a market capitalization of $24.21 billion, a price-to-earnings ratio of 76.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm’s revenue was up 63.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

About Omnicom Group

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.