Omnicom Group Inc. (OMC) Stake Boosted by British Columbia Investment Management Corp
British Columbia Investment Management Corp increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 13.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,560 shares of the company’s stock after buying an additional 11,268 shares during the period. British Columbia Investment Management Corp’s holdings in Omnicom Group were worth $8,123,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of OMC. Independent Portfolio Consultants Inc. increased its stake in shares of Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the last quarter. Trust Department MB Financial Bank N A increased its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares during the last quarter. City Holding Co. increased its stake in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock worth $163,000 after buying an additional 198 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Omnicom Group by 8.6% in the second quarter. Signaturefd LLC now owns 2,211 shares of the company’s stock worth $180,000 after buying an additional 176 shares during the last quarter. 95.24% of the stock is currently owned by institutional investors.
Omnicom Group Inc. (NYSE:OMC) traded up 0.16% during mid-day trading on Tuesday, hitting $88.34. The stock had a trading volume of 507,060 shares. Omnicom Group Inc. has a 12-month low of $66.48 and a 12-month high of $88.79. The firm has a market cap of $20.84 billion, a P/E ratio of 18.94 and a beta of 1.25. The stock has a 50-day moving average price of $82.24 and a 200 day moving average price of $83.07.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The firm earned $3.79 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Omnicom Group had a return on equity of 39.38% and a net margin of 7.32%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Equities analysts anticipate that Omnicom Group Inc. will post $4.75 EPS for the current fiscal year.
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Several equities research analysts have weighed in on the company. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Pivotal Research raised their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, October 17th. Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target for the company. RBC Capital Markets reissued a “hold” rating and issued a $87.00 price target on shares of Omnicom Group in a report on Sunday, October 9th. Finally, Royal Bank Of Canada assumed coverage on Omnicom Group in a report on Friday, October 7th. They issued a “sector perform” rating and a $87.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $83.86.
In related news, Director Leonard S. Coleman, Jr. sold 986 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $87.74, for a total value of $86,511.64. Following the completion of the sale, the director now directly owns 26,829 shares of the company’s stock, valued at approximately $2,353,976.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Dennis E. Hewitt sold 1,000 shares of the company’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $79.57, for a total value of $79,570.00. Following the completion of the sale, the treasurer now directly owns 38,075 shares of the company’s stock, valued at $3,029,627.75. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
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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