Legal & General Group Plc Increases Stake in Omnicom Group Inc. $OMC

Legal & General Group Plc raised its stake in Omnicom Group Inc. (NYSE:OMC) by 8.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,383,632 shares of the business services provider’s stock after purchasing an additional 111,788 shares during the quarter. Legal & General Group Plc’s holdings in Omnicom Group were worth $99,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Advisors Network Inc. raised its holdings in Omnicom Group by 6.1% during the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock valued at $228,000 after buying an additional 159 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Omnicom Group by 2.7% in the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock worth $457,000 after acquiring an additional 168 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Omnicom Group by 39.1% in the first quarter. Harbour Investments Inc. now owns 616 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 173 shares during the period. EPG Wealth Management LLC raised its stake in shares of Omnicom Group by 2.3% during the second quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock valued at $557,000 after acquiring an additional 175 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Omnicom Group by 6.6% during the first quarter. Horizon Investments LLC now owns 2,859 shares of the business services provider’s stock worth $237,000 after purchasing an additional 176 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.2%

OMC stock opened at $74.99 on Tuesday. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $105.99. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. The business’s 50 day moving average price is $76.23 and its two-hundred day moving average price is $74.97. 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 (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 33.30% and a net margin of 8.31%.The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. As a group, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on OMC. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Barclays lifted their price objective on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.57.

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.