Ethic Inc. Has $2.52 Million Holdings in Omnicom Group Inc. $OMC

Ethic Inc. cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 23.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,279 shares of the business services provider’s stock after selling 10,949 shares during the quarter. Ethic Inc.’s holdings in Omnicom Group were worth $2,517,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in OMC. J2 Capital Management Inc bought a new position in Omnicom Group in the second quarter valued at approximately $383,000. Golden State Wealth Management LLC grew its stake in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after buying an additional 343 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Omnicom Group by 42.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock worth $245,909,000 after buying an additional 887,415 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Omnicom Group during the first quarter worth $1,357,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Omnicom Group by 34.8% during the second quarter. Exchange Traded Concepts LLC now owns 13,300 shares of the business services provider’s stock worth $957,000 after buying an additional 3,433 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OMC shares. Barclays boosted their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $78.97 on Friday. The firm has a market cap of $15.24 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. The firm’s fifty day moving average is $77.85 and its 200-day moving average is $75.11. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. Sell-side analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

About Omnicom Group

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.