Mason Street Advisors LLC trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,990 shares of the business services provider’s stock after selling 410 shares during the period. Mason Street Advisors LLC’s holdings in Omnicom Group were worth $2,427,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Omnicom Group by 11.8% during the second quarter. Vanguard Group Inc. now owns 24,748,714 shares of the business services provider’s stock valued at $2,028,158,000 after acquiring an additional 2,606,099 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Omnicom Group by 6.2% during the second quarter. BlackRock Inc. now owns 17,320,377 shares of the business services provider’s stock valued at $1,419,404,000 after purchasing an additional 1,014,998 shares during the period. Longview Partners Guernsey LTD boosted its stake in shares of Omnicom Group by 14.2% during the second quarter. Longview Partners Guernsey LTD now owns 7,650,110 shares of the business services provider’s stock valued at $626,927,000 after purchasing an additional 951,339 shares during the period. Fiduciary Management Inc. WI boosted its stake in shares of Omnicom Group by 16.5% during the second quarter. Fiduciary Management Inc. WI now owns 5,086,196 shares of the business services provider’s stock valued at $416,814,000 after purchasing an additional 721,926 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Omnicom Group by 1.7% during the second quarter. Northern Trust Corp now owns 3,800,721 shares of the business services provider’s stock valued at $311,468,000 after purchasing an additional 62,032 shares during the period.
OMC stock traded down $0.05 on Friday, reaching $78.51. The company’s stock had a trading volume of 267,179 shares, compared to its average volume of 1,460,219. The business has a fifty day simple moving average of $77.03 and a two-hundred day simple moving average of $78.91. Omnicom Group Inc. has a 12-month low of $68.58 and a 12-month high of $85.05. The firm has a market cap of $17.22 billion, a PE ratio of 13.65, a PEG ratio of 2.62 and a beta of 0.70. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.77 and a current ratio of 0.87.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.31 by $0.01. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. Omnicom Group had a return on equity of 44.02% and a net margin of 8.88%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. As a group, research analysts anticipate that Omnicom Group Inc. will post 6.02 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research note on Monday, October 14th. ValuEngine lowered Omnicom Group from a “hold” rating to a “sell” rating in a research note on Sunday, October 27th. Barclays set a $84.00 price objective on Omnicom Group and gave the company a “hold” rating in a research note on Friday, September 27th. Citigroup dropped their price objective on Omnicom Group from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Wells Fargo & Co assumed coverage on Omnicom Group in a research note on Monday, September 23rd. They set a “market perform” rating and a $81.00 price objective for the company. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Omnicom Group has a consensus rating of “Hold” and an average target price of $82.50.
In other Omnicom Group news, Director Linda Johnson Rice sold 463 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $77.14, for a total transaction of $35,715.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrew Castellaneta sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $75.78, for a total value of $227,340.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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