Omnicom Group Inc. (OMC) Shares Bought by Community Bank N.A.
Community Bank N.A. increased its position in Omnicom Group Inc. (NYSE:OMC) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 9,135 shares of the business services provider’s stock after buying an additional 700 shares during the period. Community Bank N.A.’s holdings in Omnicom Group were worth $757,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in OMC. Dupont Capital Management Corp acquired a new position in shares of Omnicom Group during the second quarter valued at approximately $104,000. Invictus RG raised its position in shares of Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares during the period. FNY Partners Fund LP raised its position in shares of Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares during the period. Global X Management Co. LLC raised its position in shares of Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares during the period. Finally, Huntington Steele LLC acquired a new position in shares of Omnicom Group during the first quarter valued at approximately $202,000. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) opened at 78.29 on Wednesday. Omnicom Group Inc. has a 1-year low of $77.50 and a 1-year high of $89.66. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 15.81 and a beta of 1.25. The company has a 50-day moving average of $80.52 and a 200-day moving average of $83.25.
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, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the firm posted $1.36 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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 2.81%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
Several research analysts have recently commented on OMC shares. Wedbush dropped their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Barclays PLC restated a “hold” rating and set a $86.00 price target on shares of Omnicom Group in a research note on Thursday, April 20th. Zacks Investment Research lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, May 20th. Finally, Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $86.00.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The shares were 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 $634,835.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 105,250 shares in the company, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders have sold 24,183 shares of company stock worth $2,046,845 over the last ninety days. 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.