Keybank National Association OH Sells 5,587 Shares of Omnicom Group Inc. (OMC)
Keybank National Association OH reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,639 shares of the business services provider’s stock after selling 5,587 shares during the period. Keybank National Association OH’s holdings in Omnicom Group were worth $3,535,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the stock. Grimes & Company Inc. acquired a new stake in Omnicom Group during the first quarter valued at approximately $9,023,000. Norris Perne & French LLP MI raised its position in Omnicom Group by 4.2% in the first quarter. Norris Perne & French LLP MI now owns 67,029 shares of the business services provider’s stock valued at $5,779,000 after buying an additional 2,677 shares during the period. Webster Bank N. A. raised its position in Omnicom Group by 9.4% in the first quarter. Webster Bank N. A. now owns 4,651 shares of the business services provider’s stock valued at $401,000 after buying an additional 400 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Omnicom Group by 2.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,010 shares of the business services provider’s stock valued at $432,000 after buying an additional 123 shares during the period. Finally, Klingenstein Fields & Co. LLC purchased a new position in Omnicom Group during the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 72.31 on Thursday. The firm’s 50-day moving average is $79.00 and its 200 day moving average is $82.71. Omnicom Group Inc. has a 52-week low of $72.00 and a 52-week high of $89.66. The stock has a market cap of $16.69 billion, a P/E ratio of 14.60 and a beta of 1.25. Omnicom Group also was the target of some unusual options trading on Tuesday. Traders purchased 6,021 put options on the stock. This is an increase of 638% compared to the average volume of 816 put options.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. Analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
Several research firms recently commented on OMC. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. BidaskClub lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the sale, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC).
Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.