Sterling Capital Management LLC Sells 8,451 Shares of Omnicom Group Inc. $OMC

Sterling Capital Management LLC decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 44.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,531 shares of the business services provider’s stock after selling 8,451 shares during the period. Sterling Capital Management LLC’s holdings in Omnicom Group were worth $793,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OMC. AustralianSuper Pty Ltd lifted its position in shares of Omnicom Group by 24.2% in the third quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock valued at $10,579,000 after acquiring an additional 25,317 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Omnicom Group by 155.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,116 shares of the business services provider’s stock worth $7,265,000 after purchasing an additional 55,421 shares in the last quarter. AIA Group Ltd purchased a new stake in shares of Omnicom Group during the third quarter worth about $1,376,000. Deprince Race & Zollo Inc. raised its stake in Omnicom Group by 34.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 524,037 shares of the business services provider’s stock valued at $42,316,000 after purchasing an additional 133,093 shares during the period. Finally, Nordea Investment Management AB raised its stake in Omnicom Group by 2,103.2% during the 4th quarter. Nordea Investment Management AB now owns 411,049 shares of the business services provider’s stock valued at $33,262,000 after purchasing an additional 392,392 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, UBS Group raised their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Trading Up 4.5%

OMC stock opened at $76.13 on Thursday. The firm has a fifty day moving average price of $74.85 and a 200 day moving average price of $76.75. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The firm has a market cap of $21.70 billion, a PE ratio of 195.20, a price-to-earnings-growth ratio of 0.44 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 released its quarterly 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 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 the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Omnicom Group’s revenue was up 69.2% on a year-over-year basis. Sell-side analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

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.