First Manhattan CO. LLC. Increases Position in Omnicom Group Inc. (NYSE:OMC)

First Manhattan CO. LLC. increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 53.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,807 shares of the business services provider’s stock after purchasing an additional 2,028 shares during the period. First Manhattan CO. LLC.’s holdings in Omnicom Group were worth $500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. ST Germain D J Co. Inc. acquired a new position in Omnicom Group in the 4th quarter worth about $25,000. Venturi Wealth Management LLC raised its holdings in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 195 shares during the last quarter. Johnson Financial Group Inc. grew its position in shares of Omnicom Group by 153.8% in the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 404 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Omnicom Group by 194.6% in the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 323 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $75.94 on Monday. Omnicom Group Inc. has a twelve month low of $69.13 and a twelve month high of $107.00. The stock has a market capitalization of $14.82 billion, a P/E ratio of 10.19, a PEG ratio of 1.94 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average price is $77.45 and its 200 day moving average price is $86.45.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.73 billion. As a group, research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 38.30%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OMC. Citigroup restated a “buy” rating and set a $103.00 price target on shares of Omnicom Group in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, UBS Group lowered their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $101.29.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.