Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 668,138 shares of the business services provider’s stock after selling 9,285 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Omnicom Group worth $57,600,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Omnicom Group during the fourth quarter worth about $176,690,000. Institutional Capital LLC raised its stake in shares of Omnicom Group by 138.8% in the fourth quarter. Institutional Capital LLC now owns 2,350,056 shares of the business services provider’s stock worth $200,013,000 after buying an additional 1,365,822 shares in the last quarter. FIL Ltd raised its stake in shares of Omnicom Group by 18.3% in the fourth quarter. FIL Ltd now owns 3,647,939 shares of the business services provider’s stock worth $310,476,000 after buying an additional 563,853 shares in the last quarter. Morgan Stanley raised its stake in shares of Omnicom Group by 158.4% in the third quarter. Morgan Stanley now owns 918,691 shares of the business services provider’s stock worth $78,088,000 after buying an additional 563,152 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Omnicom Group by 1,969.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 455,614 shares of the business services provider’s stock worth $38,795,000 after buying an additional 433,596 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 1.17% during trading on Friday, hitting $83.33. The stock had a trading volume of 508,216 shares. The firm has a market cap of $19.39 billion, a P/E ratio of 16.99 and a beta of 1.28. Omnicom Group Inc. has a one year low of $75.61 and a one year high of $89.66. The firm’s 50-day moving average is $83.92 and its 200-day moving average is $84.84.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 18th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Omnicom Group had a net margin of 7.42% and a return on equity of 40.97%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post $5.03 EPS for the current year.
OMC has been the topic of a number of recent research reports. Bank of America Corp began coverage on Omnicom Group in a research note on Thursday, March 2nd. They set a “neutral” rating and a $91.00 price objective on the stock. Evercore ISI began coverage on Omnicom Group in a research note on Monday, April 17th. They issued an “in-line” rating and a $91.00 price target on the stock. They noted that the move was a valuation call. Atlantic Securities lowered Omnicom Group from a “neutral” rating to an “underweight” rating and set a $79.00 price target on the stock. in a research note on Wednesday, February 22nd. Wedbush boosted their price objective on Omnicom Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $101.00 price objective on shares of Omnicom Group in a report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $86.92.
In other news, Director Leonard S. Coleman, Jr. sold 2,038 shares of Omnicom Group stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $83.93, for a total transaction of $171,049.34. Following the transaction, the director now directly 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 SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company 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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