LS Investment Advisors LLC decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 19,254 shares of the business services provider’s stock after selling 693 shares during the period. LS Investment Advisors LLC’s holdings in Omnicom Group were worth $1,660,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in OMC. Bradley Foster & Sargent Inc. CT increased its position in Omnicom Group by 0.9% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 5,735 shares of the business services provider’s stock valued at $487,000 after buying an additional 50 shares during the period. Huntington National Bank increased its position in Omnicom Group by 34.5% in the third quarter. Huntington National Bank now owns 44,204 shares of the business services provider’s stock valued at $3,758,000 after buying an additional 11,343 shares during the period. Quantbot Technologies LP acquired a new position in Omnicom Group during the third quarter valued at $1,313,000. Mizuho Trust & Banking Co. Ltd. increased its position in Omnicom Group by 2.0% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 431,391 shares of the business services provider’s stock valued at $36,668,000 after buying an additional 8,361 shares during the period. Finally, LMR Partners LLP increased its position in Omnicom Group by 57.7% in the third quarter. LMR Partners LLP now owns 13,355 shares of the business services provider’s stock valued at $1,135,000 after buying an additional 4,885 shares during the period. Hedge funds and other institutional investors own 96.65% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 1.2138% during midday trading on Friday, hitting $83.3698. The company had a trading volume of 591,561 shares. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 16.9969 and a beta of 1.28. The company’s 50 day moving average is $83.92 and its 200 day moving average is $84.84. Omnicom Group Inc. has a one year low of $75.61 and a one year high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Omnicom Group Inc. will post $5.03 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on OMC shares. Wedbush increased their target price on Omnicom Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Jefferies Group LLC restated a “hold” rating on shares of Omnicom Group in a report on Wednesday, February 8th. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Thursday, February 9th. Atlantic Securities downgraded Omnicom Group from a “neutral” rating to an “underweight” rating and set a $79.00 price objective on the stock. in a report on Wednesday, February 22nd. Finally, Bank of America Corp initiated coverage on Omnicom Group in a report on Thursday, March 2nd. They issued a “neutral” rating and a $91.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.92.
In other Omnicom Group news, Director Leonard S. Coleman, Jr. sold 2,038 shares of the business’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $83.93, for a total value of $171,049.34. Following the completion of the sale, the director now owns 24,853 shares of the company’s stock, valued at $2,085,912.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
About Omnicom Group
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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