NorthCrest Asset Manangement LLC Purchases Shares of 7,594 Omnicom Group Inc. $OMC

NorthCrest Asset Manangement LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,594 shares of the business services provider’s stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OMC. Capital A Wealth Management LLC lifted its position in Omnicom Group by 548.3% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 318 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake 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 acquiring an additional 319 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after purchasing an additional 202 shares during the last quarter. Finally, Wealth Watch Advisors INC acquired a new position in shares of Omnicom Group during the third quarter worth $34,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 0.4%

Shares of Omnicom Group stock opened at $75.68 on Thursday. The firm’s 50 day simple moving average is $77.39 and its two-hundred day simple moving average is $77.01. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 154.45, a PEG ratio of 0.63 and a beta of 0.71. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

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

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be given 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 4.2%. Omnicom Group’s payout ratio is currently 653.06%.

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

Analysts Set New Price Targets

OMC has been the subject of several analyst reports. Barclays increased their price objective on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Citigroup boosted 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. Bank of America reaffirmed an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Morgan Stanley started coverage on Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $95.86.

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.