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

Truist Financial Corp boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 18.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 510,008 shares of the business services provider’s stock after purchasing an additional 78,073 shares during the quarter. Truist Financial Corp owned about 0.26% of Omnicom Group worth $45,748,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group in the 2nd quarter valued at $33,000. Innealta Capital LLC bought a new stake in Omnicom Group in the 2nd quarter valued at $33,000. Northwest Investment Counselors LLC purchased a new stake in Omnicom Group in the 1st quarter worth $50,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of Omnicom Group during the 1st quarter valued at about $52,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 0.6 %

Shares of OMC opened at $102.04 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The business has a fifty day moving average of $98.12 and a 200 day moving average of $94.58. The company has a market cap of $19.98 billion, a PE ratio of 13.79, a P/E/G ratio of 2.38 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $104.80.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.