Sterling Capital Management LLC Grows Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Sterling Capital Management LLC boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 55.5% in the fourth quarter, Holdings Channel reports. The fund owned 11,474 shares of the business services provider’s stock after purchasing an additional 4,094 shares during the period. Sterling Capital Management LLC’s holdings in Omnicom Group were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ST Germain D J Co. Inc. purchased a new stake in shares of Omnicom Group during the fourth quarter worth approximately $25,000. Versant Capital Management Inc increased its stake in Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after buying an additional 271 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Omnicom Group by 146.6% in the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 195 shares during the period. Whittier Trust Co. boosted its holdings in shares of Omnicom Group by 194.6% in the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 323 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Omnicom Group by 742.4% during the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock worth $48,000 after acquiring an additional 490 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Omnicom Group stock opened at $76.87 on Wednesday. The firm has a market capitalization of $15.11 billion, a PE ratio of 10.32, a P/E/G ratio of 1.94 and a beta of 0.87. Omnicom Group Inc. has a 52 week low of $69.13 and a 52 week high of $107.00. The firm’s 50-day simple moving average is $80.19 and its 200 day simple moving average is $90.02. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. On average, equities research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.64%. Omnicom Group’s dividend payout ratio (DPR) is 37.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OMC. Citigroup restated a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Barclays decreased their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.25.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.