Omnicom Group Inc. $OMC Stock: Kestra Private Wealth Services LLC Reduces Position

Kestra Private Wealth Services LLC reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 64.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,613 shares of the business services provider’s stock after selling 12,020 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Omnicom Group were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. acquired a new stake in Omnicom Group in the second quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in shares of Omnicom Group during the second quarter worth about $36,000. Raiffeisen Bank International AG increased its holdings in shares of Omnicom Group by 119.7% during the second quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 274 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new position in shares of Omnicom Group during the third quarter valued at about $37,000. Finally, Compass Financial Management LLC purchased a new position in shares of Omnicom Group in the 2nd quarter valued at approximately $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of OMC opened at $86.25 on Friday. The stock has a 50-day moving average of $79.57 and a two-hundred day moving average of $78.40. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.91. The stock has a market cap of $23.53 billion, a P/E ratio of 48.18, a P/E/G ratio of 0.80 and a beta of 0.72.

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

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 sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OMC has been the subject of several research analyst reports. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 28th. Citigroup cut their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Wells Fargo & Company raised their price target on shares of Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.67.

Omnicom Group 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.

Omnicom is headquartered in New York.