Bank of Nova Scotia Raises Position in Omnicom Group Inc. (NYSE:OMC)

Bank of Nova Scotia increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,750 shares of the business services provider’s stock after purchasing an additional 1,260 shares during the period. Bank of Nova Scotia’s holdings in Omnicom Group were worth $2,474,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OMC. ST Germain D J Co. Inc. purchased a new stake in Omnicom Group in the 4th quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 271 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Omnicom Group by 146.6% in the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 195 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Omnicom Group by 194.6% during the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock worth $42,000 after buying an additional 323 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 490 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Up 2.1 %

OMC stock opened at $75.56 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The firm’s 50-day simple moving average is $80.50 and its 200 day simple moving average is $90.38. The stock has a market cap of $14.85 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the previous year, the company posted $2.20 EPS. As a group, sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 annualized dividend and a yield of 3.71%. Omnicom Group’s payout ratio is 37.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. 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. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Barclays decreased their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, UBS Group decreased their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $104.43.

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.