US Bancorp DE cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,973 shares of the company’s stock after selling 4,914 shares during the period. US Bancorp DE owned about 0.09% of Omnicom Group worth $17,083,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in OMC. Independent Portfolio Consultants Inc. raised its position in Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock valued at $102,000 after buying an additional 255 shares during the period. Meeder Asset Management Inc. acquired a new stake in Omnicom Group during the third quarter valued at about $122,000. Trust Department MB Financial Bank N A increased its stake 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 valued at $123,000 after buying an additional 100 shares in the last quarter. City Holding Co. increased its stake in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares in the last quarter. Finally, PineBridge Investments L.P. increased its stake in Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock valued at $163,000 after buying an additional 198 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.68% on Friday, reaching $88.35. The company had a trading volume of 153,319 shares. The company’s 50-day moving average is $81.95 and its 200 day moving average is $83.02. Omnicom Group Inc. has a 12 month low of $66.48 and a 12 month high of $88.79. The firm has a market capitalization of $20.84 billion, a PE ratio of 18.94 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. Omnicom Group had a return on equity of 39.38% and a net margin of 7.32%. The firm earned $3.79 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts forecast that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Pivotal Research lifted their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 17th. RBC Capital Markets restated a “hold” rating and set a $87.00 price objective on shares of Omnicom Group in a report on Sunday, October 9th. Royal Bank Of Canada assumed coverage on Omnicom Group in a report on Friday, October 7th. They set a “sector perform” rating and a $87.00 price objective on the stock. Finally, Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $83.86.
In related news, Treasurer Dennis E. Hewitt sold 1,000 shares of the stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $79.57, for a total transaction of $79,570.00. Following the completion of the sale, the treasurer now owns 38,075 shares in the company, valued at approximately $3,029,627.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile