Merit Financial Group LLC Purchases 18,417 Shares of Omnicom Group Inc. $OMC

Merit Financial Group LLC increased its position in Omnicom Group Inc. (NYSE:OMC) by 176.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 also recently modified their holdings of OMC. Cornerstone Planning Group LLC grew its holdings in shares of 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 worth $27,000 after acquiring an additional 319 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 272 shares during the period. Westside Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 202 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Omnicom Group in the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC grew its holdings in shares of Omnicom Group by 1,909.5% in the fourth quarter. Rialto Wealth Management LLC now owns 422 shares of the business services provider’s stock worth $34,000 after acquiring an additional 401 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the subject of several recent research reports. Citigroup boosted their price target on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Barclays boosted their price target on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Bank of America reissued an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Hold” and an average price target of $95.86.

Omnicom Group Stock Performance

NYSE:OMC opened at $78.08 on Wednesday. The stock has a 50-day simple moving average of $77.53 and a two-hundred day simple moving average of $76.88. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market capitalization of $22.25 billion, a PE ratio of 159.34, a P/E/G ratio of 0.60 and a beta of 0.73.

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

Omnicom Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Omnicom Group Dividend Announcement

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

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.