Claro Advisors LLC bought a new position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,181 shares of the business services provider’s stock, valued at approximately $207,000.
A number of other large investors have also added to or reduced their stakes in the stock. Ten Capital Wealth Advisors LLC acquired a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $27,000. City State Bank bought a new position in shares of Omnicom Group during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Omnicom Group by 141.3% in the second quarter. EverSource Wealth Advisors LLC now owns 304 shares of the business services provider’s stock worth $29,000 after purchasing an additional 178 shares during the period. Carolinas Wealth Consulting LLC grew its stake in shares of Omnicom Group by 1,805.9% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock valued at $31,000 after buying an additional 307 shares during the period. Finally, Oakworth Capital Inc. grew its stake in Omnicom Group by 102.4% in the second quarter. Oakworth Capital Inc. now owns 338 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on OMC. JPMorgan Chase & Co. cut their price target on Omnicom Group from $103.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, October 6th. Citigroup cut their price objective on shares of Omnicom Group from $113.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Macquarie reduced their target price on Omnicom Group from $96.00 to $82.00 in a report on Tuesday, October 10th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $109.00 to $88.00 in a research report on Monday, July 24th. Finally, Morgan Stanley cut their price objective on Omnicom Group from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.25.
Omnicom Group Stock Performance
NYSE OMC opened at $75.74 on Friday. The company has a 50-day simple moving average of $75.72 and a two-hundred day simple moving average of $84.31. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 2.09 and a beta of 0.93. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.47.
Omnicom Group (NYSE:OMC – Get Free Report) last issued its earnings results on Tuesday, October 17th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.02. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a net margin of 9.62% and a return on equity of 40.01%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.77 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 7.39 EPS for the current year.
Insider Buying and Selling at Omnicom Group
In other Omnicom Group news, CAO Andrew Castellaneta sold 3,300 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $76.57, for a total transaction of $252,681.00. Following the transaction, the chief accounting officer now directly owns 30,014 shares of the company’s stock, valued at approximately $2,298,171.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Linda Johnson Rice sold 467 shares of Omnicom Group stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $80.24, for a total transaction of $37,472.08. Following the completion of the transaction, the director now directly owns 9,591 shares in the company, valued at $769,581.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrew Castellaneta sold 3,300 shares of Omnicom Group stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $76.57, for a total value of $252,681.00. Following the transaction, the chief accounting officer now owns 30,014 shares of the company’s stock, valued at approximately $2,298,171.98. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
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 brand consulting, experiential, execution and support, public relations, and healthcare.
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