PNC Financial Services Group Inc. Has $18.53 Million Position in Omnicom Group Inc. $OMC

Key Points

• PNC Financial Services reduced its stake in Omnicom Group by 6.9% in the first quarter, selling 18,297 shares and ending with 246,087 shares valued at about $18.53 million.
• Omnicom reported better-than-expected quarterly results, posting EPS of $1.90 versus estimates of $1.84 and revenue of $6.24 billion, while revenue rose sharply year over year.
• The company declared a quarterly dividend of $0.80 per share and now offers an annualized yield of about 4.0%; analysts currently have an average rating of Hold with an average target price of $99.38.

PNC Financial Services Group Inc. cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,087 shares of the business services provider's stock after selling 18,297 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of Omnicom Group worth $18,533,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Omnicom Group by 64.2% during the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider's stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares during the period. State Street Corp boosted its holdings in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider's stock worth $1,933,891,000 after buying an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Omnicom Group by 69.6% during the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider's stock worth $911,172,000 after buying an additional 4,631,394 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Omnicom Group by 522.9% during the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider's stock worth $419,858,000 after buying an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Omnicom Group by 57.1% in the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider's stock valued at $690,327,000 after acquiring an additional 3,117,188 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $79.70 on Friday. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 204.37, a price-to-earnings-growth ratio of 0.47 and a beta of 0.63. The stock's 50-day moving average is $76.40 and its 200-day moving average is $76.77. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $1.70 earnings per share. Omnicom Group's quarterly revenue was up 69.2% on a year-over-year basis. Equities analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group's dividend payout ratio is 820.51%.

Analysts Set New Price Targets

A number of analysts recently weighed in on OMC shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Morgan Stanley boosted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 target price on the stock. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.38.

Omnicom Group Company Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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