Prudential Financial Inc. grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 47.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 478,517 shares of the business services provider’s stock after acquiring an additional 154,103 shares during the quarter. Prudential Financial Inc. owned about 0.21% of Omnicom Group worth $35,444,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of OMC. Jensen Investment Management Inc. raised 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 valued at $290,047,000 after buying an additional 354,285 shares during the last quarter. Chatham Capital Group Inc. increased its position in Omnicom Group by 2.7% in the second quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock worth $9,233,000 after purchasing an additional 2,965 shares during the last quarter. Victory Capital Management Inc. increased its position in Omnicom Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock worth $2,271,000 after purchasing an additional 3,822 shares during the last quarter. Homrich & Berg increased its position in Omnicom Group by 10.3% in the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock worth $676,000 after purchasing an additional 762 shares during the last quarter. Finally, Comgest Global Investors S.A.S. boosted its stake in Omnicom Group by 2.2% during the second quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock worth $11,316,000 after buying an additional 3,000 shares during the period. 98.60% of the stock is currently owned by institutional investors.
In related news, Director Linda Johnson Rice sold 489 shares of the stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the transaction, the director now owns 7,777 shares of the company’s stock, valued at $577,986.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at $67.92 on Tuesday. The company has a market capitalization of $15,572.48, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. Omnicom Group Inc. has a 12 month low of $65.32 and a 12 month high of $89.66.
Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.69 billion. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. sell-side analysts anticipate that Omnicom Group Inc. will post 5.11 EPS for the current fiscal year.
Several equities analysts have recently issued reports on OMC shares. Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, July 22nd. BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Citigroup Inc. raised Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Omnicom Group has an average rating of “Hold” and a consensus target price of $84.00.
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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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