Merit Financial Group LLC Increases Holdings in Omnicom Group Inc. $OMC

Merit Financial Group LLC grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 176.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 28,844 shares of the business services provider’s stock after acquiring an additional 18,417 shares during the period. Merit Financial Group LLC’s holdings in Omnicom Group were worth $2,329,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. AE Wealth Management LLC lifted its position in shares of Omnicom Group by 8.7% in the fourth quarter. AE Wealth Management LLC now owns 315,475 shares of the business services provider’s stock valued at $25,475,000 after acquiring an additional 25,294 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Omnicom Group by 889.4% in the fourth quarter. Whittier Trust Co. now owns 2,800 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 2,517 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Omnicom Group by 106.5% in the fourth quarter. Private Trust Co. NA now owns 1,974 shares of the business services provider’s stock valued at $159,000 after acquiring an additional 1,018 shares in the last quarter. Key Capital Management INC purchased a new position in shares of Omnicom Group in the fourth quarter valued at about $70,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Omnicom Group by 93.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,131 shares of the business services provider’s stock valued at $4,452,000 after acquiring an additional 26,602 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

NYSE:OMC opened at $78.08 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $22.25 billion, a P/E ratio of 159.34, a P/E/G ratio of 0.60 and a beta of 0.73. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The business’s 50-day moving average is $77.53 and its 200 day moving average is $76.88.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.Omnicom Group’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 earnings per share. On average, equities research analysts forecast that Omnicom Group Inc. will post 10.92 earnings per share for the current fiscal year.

Omnicom Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. Omnicom Group’s dividend payout ratio is 653.06%.

Wall Street Analysts Forecast Growth

OMC has been the topic of several research analyst reports. Citigroup boosted their price objective on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group boosted their target price on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Barclays boosted their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.86.

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.