73,350 Shares of Omnicom Group Inc. $OMC Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the third quarter, Holdings Channel reports. The institutional investor bought 73,350 shares of the business services provider’s stock, valued at approximately $5,401,000.

A number of other institutional investors and hedge funds have also modified their holdings of OMC. Orca Investment Management LLC purchased a new stake in Omnicom Group during the 2nd quarter worth approximately $2,023,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Omnicom Group during the second quarter valued at approximately $9,146,000. Polianta Ltd acquired a new position in shares of Omnicom Group during the second quarter valued at approximately $1,762,000. Nykredit A S purchased a new position in shares of Omnicom Group in the second quarter valued at approximately $92,660,000. Finally, NewEdge Advisors LLC lifted its position in shares of Omnicom Group by 27.8% in the first quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider’s stock valued at $4,296,000 after acquiring an additional 12,425 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $87.31 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.76. The company has a market capitalization of $23.82 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 0.81 and a beta of 0.72. The firm’s 50-day moving average is $79.60 and its two-hundred day moving average is $78.36. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company posted $2.24 EPS. The business’s revenue for the quarter was up 59.1% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post 10.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OMC shares. Wells Fargo & Company lifted their price target on Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Barclays decreased their price objective on Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, October 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a report on Monday, September 14th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Activity at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.