Clark Capital Management Group Inc. Purchases 299,755 Shares of Omnicom Group Inc. $OMC

Clark Capital Management Group Inc. lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 62.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 781,701 shares of the business services provider’s stock after purchasing an additional 299,755 shares during the period. Clark Capital Management Group Inc. owned 0.41% of Omnicom Group worth $63,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ausdal Financial Partners Inc. bought a new position in shares of Omnicom Group during the 3rd quarter worth approximately $230,000. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Omnicom Group by 3.9% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,554 shares of the business services provider’s stock valued at $3,388,000 after acquiring an additional 1,542 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Omnicom Group by 5.9% in the third quarter. Bank of America Corp DE now owns 1,764,007 shares of the business services provider’s stock valued at $143,820,000 after acquiring an additional 97,569 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Omnicom Group by 58.6% during the third quarter. Bank of Nova Scotia now owns 108,415 shares of the business services provider’s stock valued at $8,839,000 after acquiring an additional 40,058 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Omnicom Group during the third quarter worth $332,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the topic of several research analyst reports. UBS Group boosted their price objective on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Citigroup lifted their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Morgan Stanley initiated coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Barclays lifted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Omnicom Group Stock Down 0.2%

OMC stock opened at $77.74 on Friday. The stock has a fifty day moving average of $77.76 and a 200-day moving average of $77.11. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 158.66, a PEG ratio of 0.75 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $7.58 billion. Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The company’s revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 EPS. As a group, equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group announced that its Board of Directors has authorized a stock buyback 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 typically an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is 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%.

Omnicom Group 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.