Arvest Bank Trust Division Buys Shares of 204,965 Omnicom Group Inc. (NYSE:OMC)

Arvest Bank Trust Division bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 204,965 shares of the business services provider's stock, valued at approximately $21,191,000. Omnicom Group accounts for about 1.2% of Arvest Bank Trust Division's holdings, making the stock its 25th biggest position. Arvest Bank Trust Division owned 0.11% of Omnicom Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp lifted its holdings in Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider's stock worth $16,723,000 after buying an additional 14,153 shares during the period. Central Pacific Bank Trust Division raised its holdings in shares of Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider's stock valued at $295,000 after acquiring an additional 401 shares in the last quarter. Assetmark Inc. lifted its stake in Omnicom Group by 2.0% in the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider's stock worth $50,562,000 after acquiring an additional 9,774 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Omnicom Group by 40.9% in the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider's stock valued at $3,077,000 after acquiring an additional 8,643 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its position in Omnicom Group by 569.2% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 10,881 shares of the business services provider's stock valued at $1,125,000 after purchasing an additional 9,255 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday. UBS Group lifted their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Macquarie restated an "outperform" rating and set a $120.00 price target on shares of Omnicom Group in a research report on Wednesday. Finally, Barclays increased their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Moderate Buy" and an average target price of $108.89.

Insider Buying and Selling

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company's stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Down 2.1 %

NYSE:OMC traded down $1.94 during trading hours on Thursday, reaching $90.16. 2,303,855 shares of the company traded hands, compared to its average volume of 1,604,546. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The business's 50-day moving average price is $102.03 and its two-hundred day moving average price is $97.29. Omnicom Group Inc. has a 1 year low of $82.97 and a 1 year high of $107.00. The stock has a market capitalization of $17.59 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.32 and a beta of 0.94.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. Analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, December 20th. Omnicom Group's dividend payout ratio (DPR) is currently 38.25%.

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.