Omnicom Group Inc. $OMC Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 129.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,480 shares of the business services provider’s stock after buying an additional 5,911 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Omnicom Group were worth $772,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lido Advisors LLC grew its stake in shares of Omnicom Group by 16.8% during the third quarter. Lido Advisors LLC now owns 7,081 shares of the business services provider’s stock worth $522,000 after acquiring an additional 1,019 shares during the last quarter. Alexander Randolph Advisory Inc. raised its position in shares of Omnicom Group by 12.6% in the 3rd quarter. Alexander Randolph Advisory Inc. now owns 40,369 shares of the business services provider’s stock valued at $2,972,000 after purchasing an additional 4,515 shares during the last quarter. Kestra Investment Management LLC raised its position in shares of Omnicom Group by 2.5% in the 3rd quarter. Kestra Investment Management LLC now owns 6,699 shares of the business services provider’s stock valued at $493,000 after purchasing an additional 163 shares during the last quarter. AlphaCore Capital LLC raised its position in shares of Omnicom Group by 336.7% in the 3rd quarter. AlphaCore Capital LLC now owns 21,539 shares of the business services provider’s stock valued at $1,602,000 after purchasing an additional 16,607 shares during the last quarter. Finally, Fulcrum Asset Management LLP boosted its stake in Omnicom Group by 1,187.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 23,939 shares of the business services provider’s stock worth $1,775,000 after purchasing an additional 22,079 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OMC. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Citigroup decreased their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Finally, Morgan Stanley boosted their price objective on shares of Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and a consensus target price of $100.67.

Omnicom Group Trading Down 0.1%

Shares of NYSE:OMC opened at $88.80 on Thursday. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 0.83 and a beta of 0.72. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $79.65 and a 200-day moving average price of $78.54.

Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.21 billion. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The company’s revenue was up 59.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 earnings per share. Equities analysts predict that Omnicom Group Inc. will post 10.23 EPS for the current year.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing. The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.