Clark Capital Management Group Inc. Has $124.44 Million Stake in Omnicom Group Inc. $OMC

Clark Capital Management Group Inc. grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 97.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,541,037 shares of the business services provider’s stock after acquiring an additional 759,336 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Omnicom Group were worth $124,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new position in Omnicom Group during the fourth quarter worth about $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group during the fourth quarter worth about $26,000. Legacy Wealth Managment LLC ID boosted its holdings in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Omnicom Group during the fourth quarter worth about $32,000. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent analyst reports. Citigroup reduced their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. UBS Group raised their target price on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Barclays raised their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Up 1.0%

Shares of Omnicom Group stock opened at $77.26 on Wednesday. The business’s 50 day simple moving average is $75.58 and its 200 day simple moving average is $76.73. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The firm has a market cap of $22.02 billion, a PE ratio of 198.10, a P/E/G ratio of 0.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $1.70 EPS. Omnicom Group’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

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

Omnicom Group Dividend Announcement

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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

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.