Omnicom Group Inc. (OMC) Shares Bought by Camden National Bank
Camden National Bank increased its position in Omnicom Group Inc. (NYSE:OMC) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 113,037 shares of the business services provider’s stock after buying an additional 4,047 shares during the period. Omnicom Group makes up 2.9% of Camden National Bank’s investment portfolio, making the stock its 10th largest position. Camden National Bank’s holdings in Omnicom Group were worth $9,371,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of OMC. Renaissance Technologies LLC bought a new stake in Omnicom Group during the fourth quarter worth approximately $306,000. Fox Run Management L.L.C. bought a new stake in Omnicom Group during the first quarter worth approximately $621,000. DnB Asset Management AS boosted its stake in Omnicom Group by 19.8% in the first quarter. DnB Asset Management AS now owns 27,209 shares of the business services provider’s stock worth $2,346,000 after buying an additional 4,500 shares during the last quarter. Professional Advisory Services Inc. boosted its stake in Omnicom Group by 0.7% in the first quarter. Professional Advisory Services Inc. now owns 154,264 shares of the business services provider’s stock worth $13,299,000 after buying an additional 1,058 shares during the last quarter. Finally, Quotient Investors LLC boosted its stake in Omnicom Group by 57.1% in the first quarter. Quotient Investors LLC now owns 4,400 shares of the business services provider’s stock worth $379,000 after buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) opened at 78.66 on Thursday. The company’s 50 day moving average is $80.39 and its 200-day moving average is $83.21. Omnicom Group Inc. has a 52-week low of $77.50 and a 52-week high of $89.66. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 15.88 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. Equities analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is 44.44%.
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A number of research analysts have weighed in on the stock. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, May 20th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. 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 dropped their price objective for the company from $90.00 to $83.00 in a research note on Tuesday, June 6th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $86.00 price objective on shares of Omnicom Group in a research note on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Treasurer Dennis E. Hewitt sold 900 shares of the 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 completion of the sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock valued at $2,046,845 over the last three months. 1.10% of the stock is currently owned by insiders.
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.
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