OLD National Bancorp IN Reduces Position in Omnicom Group Inc. (OMC)
OLD National Bancorp IN cut its position in Omnicom Group Inc. (NYSE:OMC) by 15.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,001 shares of the business services provider’s stock after selling 1,832 shares during the period. OLD National Bancorp IN’s holdings in Omnicom Group were worth $829,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC increased its position in Omnicom Group by 10.3% in the first quarter. Manning & Napier Advisors LLC now owns 37,940 shares of the business services provider’s stock worth $3,270,000 after buying an additional 3,545 shares during the period. CENTRAL TRUST Co increased its position in Omnicom Group by 10.2% in the first quarter. CENTRAL TRUST Co now owns 2,705 shares of the business services provider’s stock worth $233,000 after buying an additional 250 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in Omnicom Group by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 210,200 shares of the business services provider’s stock worth $18,121,000 after buying an additional 5,209 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Omnicom Group during the fourth quarter worth about $650,000. Finally, Kentucky Retirement Systems purchased a new position in Omnicom Group during the fourth quarter worth about $1,457,000. Institutional investors and hedge funds own 96.68% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) opened at 81.28 on Monday. The stock has a market capitalization of $18.92 billion, a PE ratio of 16.57 and a beta of 1.27. The company’s 50 day moving average price is $82.87 and its 200 day moving average price is $84.58. Omnicom Group Inc. has a 52-week low of $78.67 and a 52-week high of $89.66.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 18th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Omnicom Group had a return on equity of 42.34% and a net margin of 7.54%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post $5.04 EPS for the current year.
The firm also recently announced 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 yield of 2.71%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.81%.
A number of equities research analysts have recently commented on the company. Evercore ISI assumed coverage on Omnicom Group in a research note on Monday, April 17th. They issued an “in-line” rating and a $91.00 target price on the stock. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and issued a $101.00 target price on shares of Omnicom Group in a research note on Tuesday, April 11th. Macquarie cut Omnicom Group from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Finally, Barclays PLC reissued a “hold” rating and issued a $86.00 target price on shares of Omnicom Group in a research note on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $85.54.
In related news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard S. Coleman, Jr. sold 2,038 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $83.93, for a total value of $171,049.34. Following the transaction, the director now directly owns 24,853 shares in the company, valued at $2,085,912.29. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
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.
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