BB&T Corp Decreases Position in Omnicom Group Inc. (OMC)
BB&T Corp reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 207,021 shares of the company’s stock after selling 1,111 shares during the period. BB&T Corp owned about 0.09% of Omnicom Group worth $16,870,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Omnicom Group by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,029,274 shares of the company’s stock valued at $168,569,000 after buying an additional 103,737 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of Omnicom Group by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,672,711 shares of the company’s stock valued at $139,220,000 after buying an additional 30,109 shares during the last quarter. Marathon Asset Management LLP raised its stake in shares of Omnicom Group by 1.9% in the second quarter. Marathon Asset Management LLP now owns 1,324,559 shares of the company’s stock valued at $108,591,000 after buying an additional 25,016 shares during the last quarter. Sentry Investments Corp. raised its stake in shares of Omnicom Group by 0.7% in the first quarter. Sentry Investments Corp. now owns 1,096,490 shares of the company’s stock valued at $91,261,000 after buying an additional 7,600 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Omnicom Group by 1.5% in the first quarter. Legal & General Group Plc now owns 1,085,484 shares of the company’s stock valued at $90,346,000 after buying an additional 15,977 shares during the last quarter. 97.02% of the stock is currently owned by institutional investors and hedge funds.
Omnicom Group Inc. (NYSE:OMC) traded down 0.117% during mid-day trading on Wednesday, reaching $80.775. 2,190,388 shares of the company’s stock were exchanged. The company has a 50-day moving average of $84.22 and a 200-day moving average of $83.39. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 17.667 and a beta of 1.35. Omnicom Group Inc. has a 52-week low of $66.48 and a 52-week high of $87.50.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data 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. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The business earned $3.79 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
Several equities research analysts have issued reports on OMC shares. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Thursday, October 6th. RBC Capital Markets reiterated a “hold” rating and issued a $87.00 price target on shares of Omnicom Group in a research note on Sunday, October 9th. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research note on Sunday, July 17th. Albert Fried & Company reiterated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, Pivotal Research lifted their price target on shares of Omnicom Group from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.86.
In other news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 30,440 shares in the company, valued at approximately $2,573,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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