Allstate Corp Invests $491,000 in Omnicom Group Inc. (NYSE:OMC)

Allstate Corp acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,701 shares of the business services provider’s stock, valued at approximately $491,000.

Several other hedge funds have also added to or reduced their stakes in OMC. CreativeOne Wealth LLC acquired a new stake in shares of Omnicom Group during the third quarter worth about $363,000. Public Sector Pension Investment Board raised its holdings in Omnicom Group by 11.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,522 shares of the business services provider’s stock worth $881,000 after buying an additional 900 shares during the period. Kestra Investment Management LLC bought a new position in Omnicom Group in the third quarter valued at approximately $262,000. Benjamin Edwards Inc. boosted its holdings in shares of Omnicom Group by 8,314.3% in the third quarter. Benjamin Edwards Inc. now owns 20,615 shares of the business services provider’s stock valued at $2,131,000 after buying an additional 20,370 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Omnicom Group during the third quarter worth $6,017,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 3.8 %

NYSE OMC opened at $79.72 on Wednesday. The company has a market cap of $15.66 billion, a PE ratio of 10.70, a PEG ratio of 1.94 and a beta of 0.98. Omnicom Group Inc. has a 12 month low of $78.69 and a 12 month high of $107.00. The stock has a 50 day moving average of $83.05 and a 200-day moving average of $92.17. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating 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 period in the prior year, the firm posted $2.20 earnings per share. On average, equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 annualized dividend and a yield of 3.51%. Omnicom Group’s dividend payout ratio is 37.58%.

Wall Street Analyst Weigh In

OMC has been the subject of a number of research analyst reports. UBS Group reduced their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Wells Fargo & Company cut their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.