Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Veritable L.P.

Veritable L.P. raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,823 shares of the business services provider’s stock after acquiring an additional 625 shares during the quarter. Veritable L.P.’s holdings in Omnicom Group were worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OMC. Charles Schwab Investment Management Inc. increased its holdings in shares of Omnicom Group by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,434,922 shares of the business services provider’s stock valued at $631,076,000 after acquiring an additional 362,985 shares during the last quarter. FIL Ltd boosted its stake in Omnicom Group by 3.9% in the first quarter. FIL Ltd now owns 6,271,000 shares of the business services provider’s stock valued at $591,606,000 after acquiring an additional 237,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Omnicom Group by 38.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,426,064 shares of the business services provider’s stock worth $325,990,000 after purchasing an additional 953,613 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Omnicom Group by 372.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,218,693 shares of the business services provider’s stock worth $66,038,000 after purchasing an additional 2,537,136 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Omnicom Group by 0.7% in the 1st quarter. Invesco Ltd. now owns 3,067,410 shares of the business services provider’s stock worth $260,361,000 after purchasing an additional 20,584 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Down 1.5 %

Shares of OMC stock opened at $76.97 on Friday. The stock has a 50-day simple moving average of $75.51 and a 200 day simple moving average of $83.98. The stock has a market capitalization of $15.23 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.18 and a beta of 0.93. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. 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) last posted its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.02. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.39 earnings per share for the current fiscal year.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 3,300 shares of Omnicom Group stock in a transaction that occurred 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 in the company, valued at $2,298,171.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of Omnicom Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $109.00 to $88.00 in a research report on Monday, July 24th. Macquarie cut their price target on Omnicom Group from $96.00 to $82.00 in a report on Tuesday, October 10th. Morgan Stanley reduced their price objective on Omnicom Group from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, October 16th. Finally, Citigroup lowered their target price on Omnicom Group from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. One equities research 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’s stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $93.25.

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 brand consulting, experiential, execution and support, public relations, and healthcare.