Truist Financial Corp Grows Position in Omnicom Group Inc. (NYSE:OMC)

Truist Financial Corp raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 18.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 510,008 shares of the business services provider’s stock after purchasing an additional 78,073 shares during the period. Truist Financial Corp’s holdings in Omnicom Group were worth $45,748,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. J. W. Coons Advisors LLC increased its holdings in Omnicom Group by 11.9% during the fourth quarter. J. W. Coons Advisors LLC now owns 9,693 shares of the business services provider’s stock valued at $839,000 after buying an additional 1,031 shares during the period. Bank of Nova Scotia raised its position in shares of Omnicom Group by 24.3% in the 4th quarter. Bank of Nova Scotia now owns 23,680 shares of the business services provider’s stock worth $2,049,000 after acquiring an additional 4,630 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Omnicom Group by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 314,999 shares of the business services provider’s stock worth $27,251,000 after acquiring an additional 1,892 shares in the last quarter. KBC Group NV lifted its stake in shares of Omnicom Group by 417.1% during the 4th quarter. KBC Group NV now owns 88,098 shares of the business services provider’s stock worth $7,622,000 after purchasing an additional 71,062 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Omnicom Group by 57.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,477 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 1,262 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC opened at $102.04 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The company’s fifty day moving average price is $98.12 and its 200-day moving average price is $94.58. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $104.80. The firm has a market capitalization of $19.98 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America boosted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group boosted their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.30.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.