People s United Financial Inc. reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,787 shares of the business services provider’s stock after selling 2,935 shares during the period. People s United Financial Inc.’s holdings in Omnicom Group were worth $1,414,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of OMC. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 1,412,816.5% in the third quarter. Bank of New York Mellon Corp now owns 9,862,157 shares of the business services provider’s stock valued at $670,825,000 after purchasing an additional 9,861,459 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in Omnicom Group in the second quarter valued at approximately $227,088,000. FMR LLC grew its holdings in Omnicom Group by 20.1% in the third quarter. FMR LLC now owns 5,203,396 shares of the business services provider’s stock valued at $353,934,000 after purchasing an additional 870,559 shares during the period. JPMorgan Chase & Co. grew its holdings in Omnicom Group by 219.3% in the third quarter. JPMorgan Chase & Co. now owns 807,640 shares of the business services provider’s stock valued at $54,936,000 after purchasing an additional 554,724 shares during the period. Finally, Longview Partners Guernsey LTD grew its holdings in Omnicom Group by 8.3% in the third quarter. Longview Partners Guernsey LTD now owns 6,970,601 shares of the business services provider’s stock valued at $474,140,000 after purchasing an additional 534,008 shares during the period.
In other Omnicom Group news, Director Linda Johnson Rice sold 533 shares of Omnicom Group stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $76.28, for a total value of $40,657.24. Following the sale, the director now owns 8,027 shares in the company, valued at $612,299.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan B. Nelson sold 13,000 shares of Omnicom Group stock in a transaction on Friday, October 19th. The shares were sold at an average price of $77.38, for a total value of $1,005,940.00. Following the completion of the sale, the chief executive officer now owns 58,569 shares in the company, valued at approximately $4,532,069.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,233 shares of company stock worth $1,098,528. 1.20% of the stock is currently owned by company insiders.
NYSE OMC opened at $75.50 on Friday. The company has a market capitalization of $16.92 billion, a PE ratio of 14.80, a PEG ratio of 2.07 and a beta of 0.76. Omnicom Group Inc. has a 1-year low of $65.85 and a 1-year high of $83.34. The company has a current ratio of 0.87, a quick ratio of 0.77 and a debt-to-equity ratio of 1.48.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts predict that Omnicom Group Inc. will post 5.63 earnings per share for the current fiscal year.
Several analysts have commented on the company. ValuEngine raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Pivotal Research raised their target price on Omnicom Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, October 16th. Citigroup raised their target price on Omnicom Group from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Finally, Barclays downgraded Omnicom Group from an “equal weight” rating to a “sell” rating and set a $75.00 target price on the stock. in a research report on Friday, September 28th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $75.40.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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