BB&T Corp Decreases Position in Omnicom Group Inc. (OMC)

BB&T Corp cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,613 shares of the business services provider’s stock after selling 4,890 shares during the period. BB&T Corp’s holdings in Omnicom Group were worth $13,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Omnicom Group by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock valued at $1,358,007,000 after buying an additional 427,284 shares in the last quarter. BlackRock Inc. increased its holdings in Omnicom Group by 0.7% in the second quarter. BlackRock Inc. now owns 14,936,191 shares of the business services provider’s stock valued at $1,139,184,000 after buying an additional 109,292 shares in the last quarter. Schroder Investment Management Group increased its holdings in Omnicom Group by 9.4% in the second quarter. Schroder Investment Management Group now owns 3,559,905 shares of the business services provider’s stock valued at $271,657,000 after buying an additional 307,241 shares in the last quarter. Northern Trust Corp increased its holdings in Omnicom Group by 1.7% in the second quarter. Northern Trust Corp now owns 3,386,113 shares of the business services provider’s stock valued at $258,259,000 after buying an additional 56,688 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its holdings in Omnicom Group by 15.1% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,138,639 shares of the business services provider’s stock valued at $182,123,000 after buying an additional 412,929 shares in the last quarter.

A number of research analysts have weighed in on the stock. ValuEngine raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Pivotal Research lifted their price objective on shares of Omnicom Group from $65.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday. Royal Bank of Canada cut their price objective on shares of Omnicom Group to $75.00 and set a “$70.60” rating for the company in a report on Wednesday, July 18th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Omnicom Group in a report on Tuesday, July 17th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Omnicom Group presently has a consensus rating of “Hold” and an average price target of $76.36.

OMC stock opened at $75.69 on Thursday. The stock has a market cap of $15.26 billion, a PE ratio of 14.84, a P/E/G ratio of 2.17 and a beta of 1.06. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.89 and a quick ratio of 0.78. Omnicom Group Inc. has a 52 week low of $65.32 and a 52 week high of $83.34.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts anticipate that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.

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.

Featured Article: How Buying a Call Option Works

Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC).

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply