Allstate Corp Purchases New Position in Omnicom Group Inc. (NYSE:OMC)

Allstate Corp acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,701 shares of the business services provider’s stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. JPMorgan Chase & Co. increased its position in shares of Omnicom Group by 91.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock worth $184,730,000 after purchasing an additional 1,027,567 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Omnicom Group in the fourth quarter valued at approximately $79,321,000. State Street Corp boosted its holdings in shares of Omnicom Group by 5.7% in the 3rd 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 in the last quarter. World Investment Advisors LLC grew its position in Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after acquiring an additional 374,952 shares during the last quarter. Finally, Norges Bank acquired a new stake in Omnicom Group during the 4th quarter valued at $23,163,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Down 3.8 %

Shares of NYSE:OMC opened at $79.72 on Wednesday. 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 market cap of $15.66 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.94 and a beta of 0.98. The company has a 50 day moving average of $83.05 and a 200-day moving average of $92.17. Omnicom Group Inc. has a one year low of $78.69 and a one year high of $107.00.

Omnicom Group (NYSE:OMC) last released its earnings results 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 net margin of 9.44% and a return on equity of 36.39%. During the same quarter last year, the firm posted $2.20 earnings per share. On average, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s payout ratio is 37.58%.

Wall Street Analyst Weigh In

OMC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Barclays reduced their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. 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 for the company in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.43.

About Omnicom Group

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.