Perigon Wealth Management LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,491 shares of the business services provider’s stock after purchasing an additional 1,387 shares during the period. Perigon Wealth Management LLC’s holdings in Omnicom Group were worth $793,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jensen Investment Management Inc. increased its position in shares of Omnicom Group by 11.3% during the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock worth $290,047,000 after purchasing an additional 354,285 shares in the last quarter. Chatham Capital Group Inc. increased its position in Omnicom Group by 2.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock valued at $9,233,000 after acquiring an additional 2,965 shares during the period. Homrich & Berg increased its position in Omnicom Group by 10.3% in the 2nd quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock valued at $676,000 after acquiring an additional 762 shares during the period. Comgest Global Investors S.A.S. increased its position in Omnicom Group by 2.2% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock valued at $11,316,000 after acquiring an additional 3,000 shares during the period. Finally, Victory Capital Management Inc. increased its position in Omnicom Group by 16.2% in the 2nd quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock valued at $2,271,000 after acquiring an additional 3,822 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) traded up 1.00% during midday trading on Friday, reaching $73.69. The company’s stock had a trading volume of 3,496,302 shares. The company has a market capitalization of $17.00 billion, a P/E ratio of 14.66 and a beta of 1.28. The stock has a 50 day moving average of $74.13 and a 200-day moving average of $79.61. Omnicom Group Inc. has a 1-year low of $71.63 and a 1-year high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business earned $1.06 earnings per share. Omnicom Group’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post $5.11 earnings per share for the current year.
Several equities analysts recently issued reports on OMC shares. Credit Suisse Group boosted their price target on Omnicom Group from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. Telsey Advisory Group upgraded Omnicom Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $89.00 in a research report on Wednesday. BidaskClub cut Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $84.00.
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In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Insiders sold 1,872 shares of company stock worth $147,239 in the last 90 days. 1.10% of the stock is owned by company insiders.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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