State Treasurer State of Michigan increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 64,418 shares of the business services provider’s stock after buying an additional 300 shares during the quarter. State Treasurer State of Michigan’s holdings in Omnicom Group were worth $4,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in OMC. Segall Bryant & Hamill LLC boosted its stake in shares of Omnicom Group by 0.4% in the fourth quarter. Segall Bryant & Hamill LLC now owns 40,068 shares of the business services provider’s stock valued at $2,935,000 after buying an additional 141 shares in the last quarter. JOYN Advisors Inc. raised its holdings in Omnicom Group by 47.2% during the fourth quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Securian Asset Management Inc raised its holdings in Omnicom Group by 0.6% during the first quarter. Securian Asset Management Inc now owns 22,741 shares of the business services provider’s stock worth $1,660,000 after purchasing an additional 145 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in Omnicom Group by 16.4% during the fourth quarter. Archford Capital Strategies LLC now owns 1,202 shares of the business services provider’s stock worth $88,000 after purchasing an additional 169 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in Omnicom Group by 2.2% during the fourth quarter. Wetherby Asset Management Inc. now owns 7,977 shares of the business services provider’s stock worth $584,000 after purchasing an additional 173 shares during the last quarter.
Several equities analysts recently issued reports on OMC shares. BMO Capital Markets reduced their price objective on Omnicom Group from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Macquarie set a $76.00 price objective on Omnicom Group and gave the stock a “hold” rating in a report on Thursday, February 14th. Citigroup lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Barclays raised Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $76.00 to $84.00 in a report on Wednesday, April 17th. Finally, Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $76.90.
In other news, SVP Andrew Castellaneta sold 4,400 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan B. Nelson sold 4,916 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $84.22, for a total value of $414,025.52. Following the completion of the transaction, the chief executive officer now directly owns 83,858 shares of the company’s stock, valued at $7,062,520.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,369 shares of company stock valued at $1,000,965. Insiders own 1.10% of the company’s stock.
Shares of NYSE OMC traded up $0.71 during trading on Friday, reaching $79.75. The company had a trading volume of 12,755 shares, compared to its average volume of 1,868,521. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $84.35. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.89.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.09. Omnicom Group had a return on equity of 44.01% and a net margin of 8.76%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts anticipate that Omnicom Group Inc. will post 5.93 EPS for the current year.
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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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