Burke & Herbert Bank & Trust Co. held its stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,450 shares of the company’s stock at the end of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in Omnicom Group were worth $363,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Omnicom Group during the first quarter worth approximately $535,000. Commonwealth Equity Services Inc increased its position in Omnicom Group by 24.6% in the first quarter. Commonwealth Equity Services Inc now owns 10,039 shares of the company’s stock worth $836,000 after buying an additional 1,985 shares during the last quarter. Virginia Retirement System acquired a new position in Omnicom Group during the first quarter worth about $327,000. Ngam Advisors L.P. increased its position in Omnicom Group by 62.5% in the first quarter. Ngam Advisors L.P. now owns 76,385 shares of the company’s stock worth $6,358,000 after buying an additional 29,391 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in Omnicom Group by 11.3% in the first quarter. TIAA CREF Investment Management LLC now owns 625,610 shares of the company’s stock worth $52,070,000 after buying an additional 63,400 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) traded down 0.66% during mid-day trading on Monday, reaching $84.44. 938,778 shares of the company were exchanged. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 18.47 and a beta of 1.35. Omnicom Group Inc. has a 1-year low of $66.48 and a 1-year high of $87.50. The stock’s 50-day moving average price is $84.88 and its 200-day moving average price is $83.29.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The business earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period last year, the company earned $1.26 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post $4.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 48.04%.
OMC has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Albert Fried & Company reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. BMO Capital Markets reiterated a “hold” rating and set a $80.00 price objective on shares of Omnicom Group in a research report on Sunday, July 17th. Telsey Advisory Group lifted their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Finally, Credit Suisse Group AG began coverage on shares of Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.00.
In related news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.
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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