Ethic Inc. grew its holdings in Omnicom Group Inc. (NYSE:OMC – Free Report) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,403 shares of the business services provider’s stock after buying an additional 5,687 shares during the quarter. Ethic Inc.’s holdings in Omnicom Group were worth $3,490,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of OMC. BlackRock Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth $2,082,476,000. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $914,156,000. Nykredit A S purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $126,937,000. Pacer Advisors Inc. lifted its stake in shares of Omnicom Group by 116.2% in the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock valued at $214,451,000 after purchasing an additional 1,530,743 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Omnicom Group in the second quarter valued at about $105,402,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.
Omnicom Group Stock Up 0.5%
OMC opened at $88.98 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.91. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 0.82 and a beta of 0.72. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The business’s fifty day moving average is $79.60 and its two-hundred day moving average is $78.50.
Omnicom Group (NYSE:OMC – Get Free Report) last announced 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. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The business’s revenue for the quarter was up 59.1% on a year-over-year basis. During the same quarter last year, the business posted $2.24 earnings per share. Analysts anticipate that Omnicom Group Inc. will post 10.37 EPS for the current fiscal year.
Analysts Set New Price Targets
OMC has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, October 26th. Morgan Stanley increased their target price on shares of Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $100.67.
Read Our Latest Stock Report on Omnicom Group
Insider Activity at Omnicom Group
In related news, Director Linda Rice sold 1,385 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.
Omnicom Group Company Profile
Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing. The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.
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