ZWJ Investment Counsel Inc. Acquires 23,409 Shares of Omnicom Group Inc. $OMC

ZWJ Investment Counsel Inc. grew its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,416 shares of the business services provider’s stock after purchasing an additional 23,409 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Omnicom Group were worth $36,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OMC. BlackRock Inc. acquired a new position in Omnicom Group during the second quarter valued at $2,082,476,000. Bank of New York Mellon Corp purchased a new stake in Omnicom Group in the 2nd quarter worth about $914,156,000. First Eagle Investment Management LLC lifted its stake in Omnicom Group by 0.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock worth $534,806,000 after acquiring an additional 40,096 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Omnicom Group by 3.0% in the 2nd quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock worth $353,380,000 after acquiring an additional 142,082 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Omnicom Group by 116.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock worth $214,451,000 after acquiring an additional 1,530,743 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OMC. Wells Fargo & Company lifted their target price on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Citigroup decreased their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Barclays lowered their price objective on shares of Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.75.

Check Out Our Latest Stock Analysis on OMC

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Omnicom Group Trading Down 0.2%

NYSE OMC opened at $78.30 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The firm’s fifty day simple moving average is $81.07 and its 200-day simple moving average is $78.25. The company has a market capitalization of $21.48 billion, a PE ratio of 67.50, a price-to-earnings-growth ratio of 0.66 and a beta of 0.68.

Omnicom Group (NYSE:OMC – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the business posted $2.05 EPS. Omnicom Group’s revenue for the quarter was up 63.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 10.50 earnings per share for the current fiscal year.

Omnicom Group Profile

(Free Report)

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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