OLD National Bancorp IN trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 55.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,583 shares of the business services provider’s stock after selling 5,650 shares during the period. OLD National Bancorp IN’s holdings in Omnicom Group were worth $334,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in Omnicom Group by 24.9% during the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock worth $1,443,122,000 after buying an additional 4,228,195 shares during the period. BlackRock Inc. increased its stake in Omnicom Group by 5.3% during the 4th quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock worth $1,163,417,000 after buying an additional 796,300 shares during the period. American International Group Inc. increased its stake in Omnicom Group by 1,169.5% during the 4th quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock worth $416,263,000 after buying an additional 5,235,862 shares during the period. Janus Henderson Group PLC increased its stake in Omnicom Group by 13.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,158,808 shares of the business services provider’s stock worth $303,552,000 after buying an additional 494,508 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Omnicom Group by 6,842.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock worth $54,000 after buying an additional 3,917,700 shares during the period.
In other news, Chairman John Wren sold 60,541 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $79.84, for a total value of $4,833,593.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Castellaneta sold 4,400 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total transaction of $353,056.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,354 shares of company stock valued at $5,642,219. Company insiders own 1.10% of the company’s stock.
Shares of NYSE:OMC traded up $0.78 during trading hours on Friday, reaching $79.31. The stock had a trading volume of 1,981,017 shares, compared to its average volume of 1,532,080. Omnicom Group Inc. has a 1 year low of $65.85 and a 1 year high of $84.35. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89. The company has a market cap of $17.46 billion, a PE ratio of 13.79, a P/E/G ratio of 2.81 and a beta of 0.69.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm posted $1.14 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Omnicom Group Inc. will post 5.93 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, June 13th. Omnicom Group’s payout ratio is 45.22%.
Several equities research analysts recently weighed in on OMC shares. BMO Capital Markets cut their target price on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Macquarie set a $76.00 target price on shares of Omnicom Group and gave the stock a “hold” rating in a research note on Thursday, February 14th. Citigroup increased their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Finally, Barclays raised shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $76.00 to $84.00 in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $77.33.
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Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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