BB&T Corp lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,021 shares of the company’s stock after selling 1,111 shares during the period. BB&T Corp’s holdings in Omnicom Group were worth $16,870,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in Omnicom Group during the first quarter worth approximately $110,000. Trust Department MB Financial Bank N A increased its position in Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares in the last quarter. City Holding Co. increased its position in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares in the last quarter. Signaturefd LLC increased its position in Omnicom Group by 8.6% in the second quarter. Signaturefd LLC now owns 2,211 shares of the company’s stock worth $180,000 after buying an additional 176 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Omnicom Group during the first quarter worth approximately $218,000. Hedge funds and other institutional investors own 97.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.117% during trading on Wednesday, hitting $80.775. The stock had a trading volume of 2,190,388 shares. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 17.667 and a beta of 1.35. The company’s 50 day moving average price is $84.22 and its 200 day moving average price is $83.39. Omnicom Group Inc. has a 12 month low of $66.48 and a 12 month high of $87.50.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the company posted $0.97 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post $4.75 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the company. BMO Capital Markets reiterated a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research report on Sunday, July 17th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Pivotal Research raised their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday. Albert Fried & Company restated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research report on Thursday, July 14th. Finally, Credit Suisse Group AG assumed coverage on Omnicom Group in a research report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target for the company. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Omnicom Group has an average rating of “Hold” and a consensus target price of $83.86.
In other news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the transaction, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by 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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