Eliot Finkel Investment Counsel LLC grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 25.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,440 shares of the business services provider’s stock after purchasing an additional 4,385 shares during the period. Eliot Finkel Investment Counsel LLC’s holdings in Omnicom Group were worth $1,588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Macquarie Group Ltd. boosted its stake in Omnicom Group by 5.5% during the third quarter. Macquarie Group Ltd. now owns 151,671 shares of the business services provider’s stock valued at $11,234,000 after buying an additional 7,935 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Omnicom Group by 18.4% during the third quarter. Ameriprise Financial Inc. now owns 575,634 shares of the business services provider’s stock valued at $42,654,000 after buying an additional 89,524 shares in the last quarter. 361 Capital LLC bought a new position in Omnicom Group during the third quarter valued at about $3,288,000. SG Americas Securities LLC boosted its stake in Omnicom Group by 25.0% during the third quarter. SG Americas Securities LLC now owns 24,544 shares of the business services provider’s stock valued at $1,818,000 after buying an additional 4,908 shares in the last quarter. Finally, Commerce Bank boosted its stake in Omnicom Group by 2.4% during the third quarter. Commerce Bank now owns 114,611 shares of the business services provider’s stock valued at $8,489,000 after buying an additional 2,666 shares in the last quarter. 98.60% of the stock is currently owned by institutional investors.
OMC has been the subject of several research reports. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, July 27th. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. Argus raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research note on Wednesday, October 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Omnicom Group has an average rating of “Hold” and a consensus price target of $84.00.
Shares of Omnicom Group Inc. (OMC) traded up $0.30 during midday trading on Friday, reaching $67.45. The company’s stock had a trading volume of 2,517,200 shares, compared to its average volume of 1,873,449. Omnicom Group Inc. has a 12-month low of $65.32 and a 12-month high of $89.66. The firm has a market cap of $15,482.58, a price-to-earnings ratio of 13.51, a PEG ratio of 1.81 and a beta of 1.22. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company posted $1.06 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. equities research analysts forecast that Omnicom Group Inc. will post 5.11 EPS for the current fiscal year.
In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the completion of the sale, the director now directly owns 7,777 shares in the company, valued at approximately $577,986.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.
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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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