HighTower Advisors LLC Buys 28,490 Shares of Omnicom Group Inc. $OMC

HighTower Advisors LLC increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,909 shares of the business services provider’s stock after purchasing an additional 28,490 shares during the quarter. HighTower Advisors LLC’s holdings in Omnicom Group were worth $22,037,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OMC. Vanguard Group Inc. grew its stake in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Omnicom Group in the third quarter valued at approximately $515,145,000. Bank of New York Mellon Corp boosted its stake in Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after acquiring an additional 2,820,553 shares during the last quarter. State Street Corp boosted its stake in Omnicom Group by 15.8% in the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after acquiring an additional 2,298,652 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Omnicom Group by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after acquiring an additional 1,893,316 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 1.6%

OMC opened at $74.95 on Friday. The firm’s fifty day moving average is $75.83 and its two-hundred day moving average is $76.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The firm has a market cap of $21.36 billion, a PE ratio of 192.19, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the business posted $1.70 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group announced that its Board of Directors has approved a share repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.

Analyst Ratings Changes

A number of brokerages have issued reports on OMC. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Barclays raised their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. UBS Group raised their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Finally, Morgan Stanley increased their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.71.

About Omnicom Group

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.