Omnicom Group Inc. (OMC) Shares Sold by M&T Bank Corp
M&T Bank Corp lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 271,641 shares of the business services provider’s stock after selling 11,029 shares during the period. M&T Bank Corp owned about 0.12% of Omnicom Group worth $22,518,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in shares of Omnicom Group during the 2nd quarter worth $104,000. Parallel Advisors LLC raised its holdings in shares of Omnicom Group by 8.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after buying an additional 104 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Omnicom Group during the 2nd quarter worth $149,000. Invictus RG raised its holdings in shares of Omnicom Group by 1,098.2% during the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP raised its holdings in shares of Omnicom Group by 46.7% during the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after buying an additional 700 shares in the last quarter. 98.60% of the stock is owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE OMC) traded up 1.49% during midday trading on Thursday, reaching $74.91. The company had a trading volume of 810,005 shares. Omnicom Group Inc. has a one year low of $71.63 and a one year high of $89.66. The company has a 50 day moving average of $75.34 and a 200 day moving average of $81.20. The company has a market capitalization of $17.29 billion, a PE ratio of 15.13 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results 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 quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current fiscal 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. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.96%. Omnicom Group’s payout ratio is 44.44%.
A number of equities analysts have recently commented on OMC shares. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Wells Fargo & Company reissued a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a report on Tuesday, July 18th. Credit Suisse Group reissued a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Citigroup Inc. raised Omnicom Group from a “sell” rating to a “neutral” rating in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.92.
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In other news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following 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. Company 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.
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