Freestone Capital Holdings LLC Acquires 6,643 Shares of Omnicom Group Inc. $OMC

Freestone Capital Holdings LLC raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 53.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,003 shares of the business services provider’s stock after acquiring an additional 6,643 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Omnicom Group were worth $1,534,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Patton Fund Management Inc. increased its holdings in shares of Omnicom Group by 6.8% in the fourth quarter. Patton Fund Management Inc. now owns 3,139 shares of the business services provider’s stock worth $253,000 after purchasing an additional 199 shares during the last quarter. LOM Asset Management Ltd increased its holdings in shares of Omnicom Group by 27.5% in the fourth quarter. LOM Asset Management Ltd now owns 6,854 shares of the business services provider’s stock worth $553,000 after purchasing an additional 1,480 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Omnicom Group by 9.5% in the fourth quarter. Assetmark Inc. now owns 862,779 shares of the business services provider’s stock worth $69,669,000 after purchasing an additional 74,949 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Omnicom Group by 144.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 7,309 shares of the business services provider’s stock worth $590,000 after purchasing an additional 4,324 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Omnicom Group by 26.8% in the fourth quarter. State of Alaska Department of Revenue now owns 51,063 shares of the business services provider’s stock worth $4,122,000 after purchasing an additional 10,792 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OMC shares. Citigroup lifted their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Bank of America reaffirmed an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Barclays lifted their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Morgan Stanley started coverage on Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Finally, UBS Group lifted their target price on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.86.

Omnicom Group Trading Up 0.6%

OMC opened at $76.45 on Wednesday. The firm has a market cap of $21.79 billion, a P/E ratio of 156.02, a P/E/G ratio of 0.62 and a beta of 0.73. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $76.73 and a 200 day moving average of $76.89.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The company’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 EPS. As a group, research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 11th were given a $0.80 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 653.06%.

Omnicom Group declared that its board has approved a stock buyback program on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.