Arvest Bank Trust Division Has $13.27 Million Stock Position in Omnicom Group Inc. $OMC

Arvest Bank Trust Division lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 14.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 164,324 shares of the business services provider’s stock after selling 26,849 shares during the period. Arvest Bank Trust Division’s holdings in Omnicom Group were worth $13,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OMC. Activest Wealth Management boosted its position in Omnicom Group by 2,960.0% in the fourth 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 in the last quarter. Bayforest Capital Ltd acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC boosted its position in Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its position in 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 buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $74.36 on Wednesday. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The firm has a fifty day simple moving average of $75.71 and a 200 day simple moving average of $76.51. The company has a market capitalization of $21.19 billion, a PE ratio of 190.67, a P/E/G ratio of 0.45 and a beta of 0.66. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the firm earned $1.70 earnings per share. Omnicom Group’s quarterly revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OMC. UBS Group raised their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Morgan Stanley raised their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday. Barclays raised their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, Citigroup cut their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Omnicom Group presently has an average rating of “Hold” and an average price target of $93.71.

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.