Omnicom Group Inc. (OMC) Sees Unusually-High Trading Volume
Shares of Omnicom Group Inc. (NYSE:OMC) saw unusually-high trading volume on Monday . Approximately 1,164,266 shares changed hands during trading, an increase of 9% from the previous session’s volume of 1,068,820 shares.The stock last traded at $86.27 and had previously closed at $84.55.
A number of brokerages have issued reports on OMC. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Albert Fried & Company reissued a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Finally, Telsey Advisory Group raised their price target on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.82.
The stock’s 50-day moving average price is $83.33 and its 200 day moving average price is $82.10. The firm has a market capitalization of $20.30 billion and a P/E ratio of 18.78.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.91 billion. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. Equities analysts anticipate that Omnicom Group Inc. will post $4.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, September 20th.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the transaction, the director now directly owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $84.31, for a total transaction of $1,922,268.00. Following the transaction, the chairman now directly owns 128,650 shares of the company’s stock, valued at $10,846,481.50. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. American International Group Inc. raised its position in Omnicom Group by 5.2% in the fourth quarter. American International Group Inc. now owns 4,941,763 shares of the company’s stock worth $373,894,000 after buying an additional 242,614 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Omnicom Group by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 780,332 shares of the company’s stock worth $59,045,000 after buying an additional 19,650 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Omnicom Group by 39.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 65,089 shares of the company’s stock worth $4,925,000 after buying an additional 18,385 shares in the last quarter. State of Tennessee Treasury Department raised its position in Omnicom Group by 23.1% in the fourth quarter. State of Tennessee Treasury Department now owns 75,143 shares of the company’s stock worth $5,685,000 after buying an additional 14,101 shares in the last quarter. Finally, KBC Group NV raised its position in Omnicom Group by 7.4% in the fourth quarter. KBC Group NV now owns 31,086 shares of the company’s stock worth $2,352,000 after buying an additional 2,152 shares in the last quarter.
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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