12,443 Shares in Omnicom Group Inc. $OMC Acquired by Centerline Wealth Advisors LLC

Centerline Wealth Advisors LLC purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,443 shares of the business services provider’s stock, valued at approximately $1,005,000.

A number of other hedge funds also recently made changes to their positions in OMC. First Eagle Investment Management LLC purchased a new stake in Omnicom Group during the third quarter worth approximately $515,145,000. JPMorgan Chase & Co. boosted its position in Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock worth $447,017,000 after purchasing an additional 3,362,411 shares during the period. Bank of New York Mellon Corp boosted its position in Omnicom Group by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after purchasing an additional 2,820,553 shares during the period. State Street Corp increased its holdings in Omnicom Group by 15.8% in the 3rd quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after purchasing an additional 2,298,652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Omnicom Group by 38.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock worth $324,782,000 after acquiring an additional 1,255,197 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OMC shares. Citigroup boosted their price target 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 restated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Barclays lifted their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Finally, UBS Group upped their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has an average rating of “Hold” and an average price target of $95.86.

Omnicom Group Stock Down 1.1%

Omnicom Group stock opened at $75.00 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a 50-day simple moving average of $77.57 and a 200-day simple moving average of $77.07. The firm has a market capitalization of $23.28 billion, a P/E ratio of 153.07, a P/E/G ratio of 0.62 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm earned $2.41 earnings per share. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

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

Omnicom Group declared that its board has initiated a stock buyback program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.