Ledyard National Bank raised its stake in Omnicom Group Inc. (NYSE:OMC) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,460 shares of the business services provider’s stock after buying an additional 120 shares during the period. Ledyard National Bank’s holdings in Omnicom Group were worth $212,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Omnicom Group during the third quarter valued at $122,000. TLP Group LLC acquired a new position in Omnicom Group during the third quarter valued at $125,000. FNY Partners Fund LP acquired a new position in Omnicom Group during the fourth quarter valued at $128,000. SRB Corp boosted its position in Omnicom Group by 9.0% in the third quarter. SRB Corp now owns 1,856 shares of the business services provider’s stock valued at $158,000 after buying an additional 153 shares in the last quarter. Finally, Cribstone Capital Management LLC acquired a new position in Omnicom Group during the first quarter valued at $164,000. 96.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.77% during mid-day trading on Friday, hitting $83.43. The company’s stock had a trading volume of 824,363 shares. The stock’s 50 day moving average price is $84.91 and its 200 day moving average price is $84.62. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 17.45 and a beta of 1.28. Omnicom Group Inc. has a 52-week low of $75.61 and a 52-week high of $89.66.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Equities analysts forecast that Omnicom Group Inc. will post $5.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 7th. Shareholders of record on Thursday, March 9th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $2.20 dividend on an annualized basis and a yield of 2.62%. Omnicom Group’s dividend payout ratio is presently 45.93%.
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Several research firms have weighed in on OMC. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada reissued a “buy” rating and issued a $101.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 11th. Barclays PLC reissued a “hold” rating and issued a $86.00 price objective on shares of Omnicom Group in a research report on Thursday. Wedbush cut their price objective on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Evercore ISI began coverage on Omnicom Group in a research report on Monday. They issued an “in-line” rating and a $91.00 price objective on the stock. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $86.92.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 1,400 shares of the firm’s stock in a transaction dated Saturday, February 11th. The stock was sold at an average price of $85.14, for a total transaction of $119,196.00. Following the sale, the treasurer now directly owns 37,175 shares of the company’s stock, valued at $3,165,079.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is 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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