Union Bankshares Corp Has $2,240,000 Stake in Omnicom Group Inc. (OMC)
Union Bankshares Corp increased its stake in Omnicom Group Inc. (NYSE:OMC) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,352 shares of the company’s stock after buying an additional 183 shares during the period. Union Bankshares Corp’s holdings in Omnicom Group were worth $2,240,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of OMC. Private Bank & Trust Co. raised its position in Omnicom Group by 1.0% in the third quarter. Private Bank & Trust Co. now owns 15,688 shares of the company’s stock valued at $1,334,000 after buying an additional 150 shares in the last quarter. Community Bank N.A. raised its position in Omnicom Group by 5.7% in the third quarter. Community Bank N.A. now owns 7,935 shares of the company’s stock valued at $675,000 after buying an additional 425 shares in the last quarter. MSI Financial Services Inc raised its position in Omnicom Group by 5.8% in the third quarter. MSI Financial Services Inc now owns 3,143 shares of the company’s stock valued at $267,000 after buying an additional 171 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Omnicom Group by 13.0% in the third quarter. Nisa Investment Advisors LLC now owns 87,946 shares of the company’s stock valued at $7,475,000 after buying an additional 10,126 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in Omnicom Group by 6.0% in the third quarter. Capstone Asset Management Co. now owns 41,117 shares of the company’s stock valued at $3,495,000 after buying an additional 2,330 shares in the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.16% during trading on Tuesday, hitting $88.34. The stock had a trading volume of 1,002,753 shares. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $88.79. The stock’s 50-day moving average price is $82.24 and its 200-day moving average price is $83.07. The company has a market cap of $20.84 billion, a P/E ratio of 18.94 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.03. Omnicom Group had a return on equity of 39.38% and a net margin of 7.32%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Omnicom Group Inc. will post $4.75 EPS for the current fiscal year.
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Several research firms have recently commented on OMC. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Pivotal Research boosted their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the company a “hold” rating in a report on Monday, October 17th. RBC Capital Markets restated a “hold” rating and issued a $87.00 price objective on shares of Omnicom Group in a report on Sunday, October 9th. Royal Bank Of Canada assumed coverage on shares of Omnicom Group in a report on Friday, October 7th. They issued a “sector perform” rating and a $87.00 price objective on the stock. Finally, Credit Suisse Group AG assumed coverage on shares of Omnicom Group in a report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $83.86.
In other news, Director Leonard S. Coleman, Jr. sold 986 shares of the firm’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 transaction, the director now directly owns 26,829 shares in the company, valued at approximately $2,353,976.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Treasurer Dennis E. Hewitt sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $79.57, for a total value of $79,570.00. Following the completion of the transaction, the treasurer now owns 38,075 shares in the company, valued at $3,029,627.75. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
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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