Omnicom Group Inc. $OMC Shares Sold by Glenview Trust Co

Glenview Trust Co lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 21.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,154 shares of the business services provider’s stock after selling 9,816 shares during the period. Glenview Trust Co’s holdings in Omnicom Group were worth $2,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Resona Asset Management Co. Ltd. increased its stake in shares of Omnicom Group by 55.4% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after acquiring an additional 35,247 shares during the period. Generali Asset Management SPA SGR lifted its position in Omnicom Group by 346.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock valued at $1,662,000 after purchasing an additional 15,966 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Omnicom Group by 70.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock valued at $54,815,000 after purchasing an additional 277,665 shares during the period. Orca Investment Management LLC purchased a new stake in Omnicom Group in the second quarter valued at $2,023,000. Finally, New York State Teachers Retirement System boosted its holdings in Omnicom Group by 70.2% in the fourth quarter. New York State Teachers Retirement System now owns 251,174 shares of the business services provider’s stock valued at $20,282,000 after purchasing an additional 103,615 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OMC shares. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Wells Fargo & Company upped their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Up 0.5%

Shares of OMC opened at $88.32 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a market cap of $24.23 billion, a P/E ratio of 76.14, a PEG ratio of 0.58 and a beta of 0.64. The stock’s 50 day moving average is $81.71 and its two-hundred day moving average is $78.19. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business earned $2.05 EPS. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.