Thurston Springer Miller Herd & Titak Inc. Raises Holdings in Omnicom Group Inc. (NYSE:OMC)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 101.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 749 shares of the business services provider’s stock after acquiring an additional 377 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Omnicom Group were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Sound Income Strategies LLC increased its holdings in shares of Omnicom Group by 5.2% in the 3rd quarter. Sound Income Strategies LLC now owns 235,779 shares of the business services provider’s stock valued at $24,377,000 after acquiring an additional 11,571 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Omnicom Group by 62.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,735 shares of the business services provider’s stock valued at $1,007,000 after acquiring an additional 3,727 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Omnicom Group by 1.9% in the 3rd quarter. Ritholtz Wealth Management now owns 18,644 shares of the business services provider’s stock valued at $1,928,000 after acquiring an additional 340 shares during the last quarter. Meyer Handelman Co. increased its holdings in shares of Omnicom Group by 4.3% in the 3rd quarter. Meyer Handelman Co. now owns 164,241 shares of the business services provider’s stock valued at $16,981,000 after acquiring an additional 6,744 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Omnicom Group in the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Bank of America upped their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Finally, Macquarie reissued an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.30.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Omnicom Group Price Performance

OMC stock opened at $104.02 on Wednesday. Omnicom Group Inc. has a 52-week low of $73.28 and a 52-week high of $105.36. The stock’s fifty day simple moving average is $99.55 and its 200-day simple moving average is $95.07. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, September 20th. Omnicom Group’s payout ratio is currently 37.84%.

About Omnicom Group

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.