Arvest Bank Trust Division Sells 144,555 Shares of Omnicom Group Inc. $OMC

Arvest Bank Trust Division lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 88.0% in the 1st quarter, HoldingsChannel reports. The fund owned 19,769 shares of the business services provider’s stock after selling 144,555 shares during the quarter. Arvest Bank Trust Division’s holdings in Omnicom Group were worth $1,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Omnicom Group by 25.4% in the first quarter. First Trust Advisors LP now owns 756,426 shares of the business services provider’s stock valued at $56,966,000 after acquiring an additional 153,283 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of Omnicom Group by 43.4% during the 1st quarter. Westpac Banking Corp now owns 3,802 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 1,150 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Omnicom Group in the first quarter valued at approximately $8,742,000. Oslo Pensjonsforsikring AS bought a new position in Omnicom Group during the 1st quarter worth about $317,000. Finally, Glenview Trust Co raised its position in Omnicom Group by 4.1% in the 1st quarter. Glenview Trust Co now owns 44,970 shares of the business services provider’s stock valued at $3,387,000 after buying an additional 1,752 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 4.0%

NYSE:OMC opened at $79.11 on Wednesday. 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 one year low of $66.33 and a one year high of $87.17. The company has a market cap of $22.55 billion, a PE ratio of 202.85, a P/E/G ratio of 0.49 and a beta of 0.63. The firm’s 50 day simple moving average is $76.00 and its 200 day simple moving average is $76.78.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business posted $1.70 earnings per share. Omnicom Group’s quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group’s dividend payout ratio is 820.51%.

Analyst Ratings Changes

A number of research firms have recently commented on OMC. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Morgan Stanley lifted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Argus upgraded Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Finally, Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus target price of $99.38.

Omnicom Group Company 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.