Aviva PLC lowered its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,076 shares of the business services provider’s stock after selling 5,403 shares during the quarter. Aviva PLC’s holdings in Omnicom Group were worth $7,487,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of OMC. Piedmont Investment Advisors LLC bought a new position in shares of Omnicom Group during the 2nd quarter valued at approximately $199,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Omnicom Group during the 2nd quarter valued at approximately $2,617,000. Commonwealth Equity Services LLC increased its position in shares of Omnicom Group by 23.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,858 shares of the business services provider’s stock valued at $1,820,000 after purchasing an additional 4,516 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Omnicom Group by 7.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 710,336 shares of the business services provider’s stock valued at $54,177,000 after purchasing an additional 46,475 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Omnicom Group by 1.3% during the 2nd quarter. Comerica Bank now owns 56,064 shares of the business services provider’s stock valued at $3,963,000 after purchasing an additional 742 shares during the last quarter.
In other Omnicom Group news, CEO Jonathan B. Nelson sold 13,000 shares of the company’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $77.38, for a total value of $1,005,940.00. Following the transaction, the chief executive officer now owns 58,569 shares of the company’s stock, valued at approximately $4,532,069.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 500 shares of the company’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $75.85, for a total value of $37,925.00. Following the completion of the transaction, the treasurer now directly owns 45,610 shares in the company, valued at approximately $3,459,518.50. The disclosure for this sale can be found here. Insiders sold a total of 14,233 shares of company stock worth $1,098,528 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
Shares of Omnicom Group stock opened at $75.63 on Thursday. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.77 and a current ratio of 0.87. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $83.34.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.68 billion. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. Omnicom Group’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 EPS. On average, equities analysts expect that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.
OMC has been the topic of several analyst reports. ValuEngine raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Barclays set a $76.00 target price on Omnicom Group and gave the company a “sell” rating in a research report on Wednesday, October 17th. Citigroup boosted their target price on Omnicom Group from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, Pivotal Research boosted their target price on Omnicom Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, October 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $75.40.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
Further Reading: Risk Tolerance
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