Omnicom Group Inc. (OMC) Stake Lowered by BB&T Securities LLC
BB&T Securities LLC decreased its position in Omnicom Group Inc. (NYSE:OMC) by 52.3% during the second quarter, Holdings Channel reports. The firm owned 288,108 shares of the business services provider’s stock after selling 315,914 shares during the period. BB&T Securities LLC’s holdings in Omnicom Group were worth $23,884,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Vanguard Group Inc. increased its stake in Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock worth $1,367,864,000 after buying an additional 116,893 shares during the period. First Eagle Investment Management LLC increased its stake in Omnicom Group by 2.6% in the second quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock worth $1,113,320,000 after buying an additional 341,406 shares during the period. State Street Corp increased its stake in Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock worth $850,497,000 after buying an additional 121,470 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Omnicom Group by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 5,933,025 shares of the business services provider’s stock worth $511,487,000 after buying an additional 488,684 shares during the period. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 76.76 on Friday. Omnicom Group Inc. has a 52-week low of $76.74 and a 52-week high of $89.66. The stock has a 50 day moving average of $80.03 and a 200 day moving average of $83.10. The stock has a market capitalization of $17.71 billion, a P/E ratio of 15.50 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current 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 $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.87%. Omnicom Group’s dividend payout ratio is 44.44%.
OMC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. BidaskClub downgraded shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $79.00 target price (down from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and an average price target of $86.00.
In related news, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the sale, the chairman now directly owns 105,250 shares in the company, valued at approximately $8,936,777.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock worth $2,046,845 over the last quarter. 1.10% of the stock is currently owned by corporate 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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