PNC Financial Services Group Inc. Purchases 207,343 Shares of Omnicom Group Inc. (OMC)
PNC Financial Services Group Inc. raised its position in Omnicom Group Inc. (NYSE:OMC) by 52.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 602,333 shares of the business services provider’s stock after purchasing an additional 207,343 shares during the period. PNC Financial Services Group Inc. owned about 0.26% of Omnicom Group worth $49,935,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Omnicom Group by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 104 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Omnicom Group in the 2nd quarter valued at about $104,000. Invictus RG lifted its holdings in Omnicom Group by 1,098.2% in the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 1,812 shares in the last quarter. FNY Partners Fund LP lifted its holdings in Omnicom Group by 46.7% in the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 700 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in Omnicom Group by 29.4% in the 1st quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the transaction, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Omnicom Group Inc. (NYSE:OMC) traded up 0.01% during mid-day trading on Monday, reaching $73.05. 305,338 shares of the company were exchanged. The stock’s 50-day moving average is $75.69 and its 200-day moving average is $81.45. Omnicom Group Inc. has a 12 month low of $71.63 and a 12 month high of $89.66. The company has a market cap of $16.86 billion, a P/E ratio of 14.75 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business earned $1.36 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s payout ratio is 44.44%.
A number of research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. BidaskClub downgraded shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Citigroup Inc. raised shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, 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 Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $85.92.
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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