44,970 Shares in Omnicom Group Inc. $OMC Purchased by Glenview Trust Co

Glenview Trust Co bought a new position in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 44,970 shares of the business services provider’s stock, valued at approximately $3,387,000.

A number of other hedge funds have also added to or reduced their stakes in OMC. BlackRock Inc. purchased a new position in Omnicom Group during the second quarter valued at approximately $2,082,476,000. State Street Corp increased its holdings in Omnicom Group by 40.4% during the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares during the period. Bank of New York Mellon Corp purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $914,156,000. Geode Capital Management LLC lifted its stake in Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after purchasing an additional 3,117,188 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Omnicom Group by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock worth $512,927,000 after purchasing an additional 33,557 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Omnicom Group Trading Down 0.1%

Shares of Omnicom Group stock opened at $87.78 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The firm has a market cap of $24.08 billion, a PE ratio of 75.68, a PEG ratio of 0.58 and a beta of 0.64. The company has a 50 day simple moving average of $81.37 and a two-hundred day simple moving average of $78.12.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company 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 posted $2.05 EPS. The business’s quarterly revenue was up 63.4% compared to the same quarter last year. Analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Analysts Set New Price Targets

A number of research analysts have recently commented on OMC shares. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus target price of $99.00.

About Omnicom Group

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.