Omnicom Group Inc. (NYSE:OMC) Shares Sold by OLD National Bancorp IN

Posted by Defense World Staff on Jul 3rd, 2023

OLD National Bancorp IN lowered its position in Omnicom Group Inc. (NYSE:OMC – Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,808 shares of the business services provider’s stock after selling 489 shares during the quarter. OLD National Bancorp IN’s holdings in Omnicom Group were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Romano Brothers AND Company acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $31,000. Financial Management Professionals Inc. increased its stake in shares of Omnicom Group by 453.6% in the first quarter. Financial Management Professionals Inc. now owns 382 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 313 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Omnicom Group by 80.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 389 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 173 shares during the period. AdvisorNet Financial Inc increased its stake in shares of Omnicom Group by 70.1% in the fourth quarter. AdvisorNet Financial Inc now owns 551 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 227 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Omnicom Group in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Omnicom Group from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Morgan Stanley raised their price objective on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. BNP Paribas upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $96.00 price objective on the stock in a research note on Wednesday, March 29th. StockNews.com initiated coverage on shares of Omnicom Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Macquarie raised their target price on shares of Omnicom Group from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.86.

Insider Buying and Selling

In related news, VP Rochelle M. Tarlowe sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $94.12, for a total value of $169,416.00. Following the completion of the transaction, the vice president now owns 13,496 shares of the company’s stock, valued at approximately $1,270,243.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Omnicom Group news, CEO Jonathan B. Nelson sold 25,000 shares of Omnicom Group stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $94.71, for a total transaction of $2,367,750.00. Following the completion of the sale, the chief executive officer now owns 121,347 shares of the company’s stock, valued at approximately $11,492,774.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rochelle M. Tarlowe sold 1,800 shares of Omnicom Group stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $94.12, for a total transaction of $169,416.00. Following the sale, the vice president now directly owns 13,496 shares of the company’s stock, valued at approximately $1,270,243.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,500 shares of company stock valued at $12,073,741. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 1.1 %

Omnicom Group stock opened at $95.15 on Monday. The company has a 50 day moving average price of $92.50 and a 200 day moving average price of $89.72. Omnicom Group Inc. has a 52 week low of $61.31 and a 52 week high of $97.22. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.85 and a current ratio of 0.96. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 2.65 and a beta of 0.83.

Omnicom Group (NYSE:OMC – Free Report) last posted its quarterly earnings data on Tuesday, April 18th. The business services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Omnicom Group had a net margin of 9.57% and a return on equity of 41.72%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $1.39 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Omnicom Group Inc. will post 7.43 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 9th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, June 8th. Omnicom Group’s dividend payout ratio is 42.11%.

Omnicom Group Company Profile

(Free Report)

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 brand consulting, experiential, execution and support, public relations, and healthcare.