Glenview Trust Co lifted its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,678 shares of the business services provider’s stock after acquiring an additional 7,524 shares during the quarter. Glenview Trust Co’s holdings in Omnicom Group were worth $3,142,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of OMC. D.A. Davidson & CO. increased its position in shares of Omnicom Group by 3.2% during the 3rd quarter. D.A. Davidson & CO. now owns 12,040 shares of the business services provider’s stock worth $887,000 after purchasing an additional 375 shares during the last quarter. Great Lakes Retirement Inc. grew its stake in shares of Omnicom Group by 0.7% in the third quarter. Great Lakes Retirement Inc. now owns 20,675 shares of the business services provider’s stock valued at $1,539,000 after buying an additional 148 shares in the last quarter. Latitude Advisors LLC bought a new position in shares of Omnicom Group in the third quarter valued at $80,000. Oppenheimer & Co. Inc. increased its holdings in Omnicom Group by 4.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,503 shares of the business services provider’s stock worth $1,436,000 after buying an additional 777 shares during the last quarter. Finally, Access Investment Management LLC increased its holdings in Omnicom Group by 31.8% during the third quarter. Access Investment Management LLC now owns 106,968 shares of the business services provider’s stock worth $7,876,000 after buying an additional 25,778 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.
Omnicom Group Stock Performance
Shares of NYSE OMC opened at $81.28 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 0.91. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The stock has a 50 day moving average of $79.82 and a 200-day moving average of $78.24. The company has a market capitalization of $22.18 billion, a P/E ratio of 45.41, a P/E/G ratio of 0.75 and a beta of 0.68.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.06. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the business earned $2.24 EPS. The firm’s revenue for the quarter was up 59.1% on a year-over-year basis. As a group, equities research analysts predict that Omnicom Group Inc. will post 10.37 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on OMC. Barclays dropped their price target on shares of Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, October 26th. Morgan Stanley lifted their price objective on shares of Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Citigroup lowered their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of Omnicom Group from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.67.
Get Our Latest Research Report on OMC
Insider Buying and Selling
In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The shares were 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 in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.
Omnicom Group Profile
Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.
Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.
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