Arvest Bank Trust Division Has $13.27 Million Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Arvest Bank Trust Division reduced its Omnicom Group stake by 14% in the fourth quarter, selling 26,849 shares and leaving it with 164,324 shares valued at about $13.27 million.
• Omnicom’s latest quarterly results beat expectations, with EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion expected.
• The company announced a quarterly dividend of $0.80 per share and a $5 billion stock buyback program, while analysts currently rate the stock a consensus Hold with an average price target of $93.71.

Arvest Bank Trust Division trimmed its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 164,324 shares of the business services provider's stock after selling 26,849 shares during the quarter. Arvest Bank Trust Division owned approximately 0.09% of Omnicom Group worth $13,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of OMC. Vanguard Group Inc. raised its holdings in shares of Omnicom Group by 64.2% in the 4th 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 period. First Eagle Investment Management LLC bought a new stake in shares of Omnicom Group in the 3rd quarter valued at about $515,145,000. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 73.6% in the 3rd 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 purchasing an additional 2,820,553 shares during the period. State Street Corp raised 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 acquiring an additional 2,298,652 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Omnicom Group by 30.5% in the 3rd 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 period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Down 0.8%

Shares of OMC opened at $74.36 on Wednesday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The firm's 50 day moving average is $75.71 and its 200-day moving average is $76.51. The stock has a market capitalization of $21.19 billion, a PE ratio of 190.67, a P/E/G ratio of 0.45 and a beta of 0.66. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS 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 analysts' expectations of $5.85 billion. During the same period last year, the firm earned $1.70 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The company 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 dividend of $0.80 per share. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. Omnicom Group's dividend payout ratio (DPR) is currently 820.51%.

Omnicom Group announced that its board has initiated a stock buyback program on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

OMC has been the topic of several research analyst reports. Barclays increased their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. Argus raised shares of Omnicom Group to a "hold" rating in a report on Thursday, March 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a report on Friday. UBS Group increased their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a report on Friday, March 20th. Finally, Citigroup lowered 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. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $93.71.

Omnicom Group Company Profile

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.

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