Glenview Trust Co Cuts Holdings in Omnicom Group Inc. (OMC)
Glenview Trust Co decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,244 shares of the business services provider’s stock after selling 37 shares during the period. Glenview Trust Co’s holdings in Omnicom Group were worth $683,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jensen Investment Management Inc. increased its position in Omnicom Group by 11.3% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after purchasing an additional 354,285 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Omnicom Group by 2.2% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock valued at $11,316,000 after buying an additional 3,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Omnicom Group by 60.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 10,204 shares of the business services provider’s stock valued at $846,000 after buying an additional 3,842 shares in the last quarter. Beutel Goodman & Co Ltd. bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $153,358,000. Finally, Homrich & Berg boosted its holdings in shares of Omnicom Group by 10.3% in the 2nd quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock valued at $676,000 after buying an additional 762 shares in the last quarter. 98.60% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on OMC. Zacks Investment Research cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. Macquarie cut shares of Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $83.00 in a report on Tuesday, June 6th. BidaskClub cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of Omnicom Group in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and an average target price of $85.92.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 1.04% during midday trading on Friday, reaching $75.00. 1,482,939 shares of the company traded hands. The stock’s 50-day moving average is $75.34 and its 200-day moving average is $81.20. The stock has a market capitalization of $17.31 billion, a P/E ratio of 15.15 and a beta of 1.27. Omnicom Group Inc. has a 1-year low of $71.63 and a 1-year high of $89.66.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction 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 completion of the transaction, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were 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 owns 7,724 shares of the company’s stock, valued at approximately $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 Company Profile
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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