First National Trust Co. lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 19.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,343 shares of the business services provider’s stock after selling 1,957 shares during the period. First National Trust Co.’s holdings in Omnicom Group were worth $618,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Omnicom Group by 0.5% during the second quarter. Vanguard Group Inc. now owns 15,946,330 shares of the business services provider’s stock worth $1,321,951,000 after purchasing an additional 79,678 shares during the period. First Eagle Investment Management LLC raised its position in Omnicom Group by 12.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 15,101,129 shares of the business services provider’s stock valued at $1,118,541,000 after buying an additional 1,671,452 shares during the last quarter. Pzena Investment Management LLC grew its stake in Omnicom Group by 6.1% in the third quarter. Pzena Investment Management LLC now owns 6,343,295 shares of the business services provider’s stock valued at $469,848,000 after purchasing an additional 364,309 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in Omnicom Group by 41.3% in the third quarter. Longview Partners Guernsey LTD now owns 5,653,698 shares of the business services provider’s stock valued at $418,769,000 after purchasing an additional 1,653,208 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Omnicom Group by 15,279.3% in the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after purchasing an additional 4,963,787 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.
Several analysts recently issued reports on the company. Argus upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Credit Suisse Group lifted their price objective on Omnicom Group from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Royal Bank Of Canada dropped their price objective on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating for the company in a report on Wednesday, October 18th. Finally, Telsey Advisory Group raised Omnicom Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $89.00 in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and an average price target of $84.00.
In related news, Director Linda Johnson Rice sold 489 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the sale, the director now owns 7,777 shares in the company, valued at approximately $577,986.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (OMC) traded down $0.26 during midday trading on Wednesday, hitting $67.66. The company’s stock had a trading volume of 1,895,800 shares, compared to its average volume of 1,870,514. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $89.66. The company has a market cap of $15,657.78, a price-to-earnings ratio of 13.67, a PEG ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The business’s revenue was down 1.9% on a year-over-year basis. analysts forecast that Omnicom Group Inc. will post 5.11 earnings per share for the current year.
Omnicom Group 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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