Omnicom Group Inc. $OMC Stock Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 208,480 shares of the business services provider’s stock after selling 11,792 shares during the period. Welch & Forbes LLC’s holdings in Omnicom Group were worth $15,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pure Financial Advisors LLC raised its stake in shares of Omnicom Group by 3.1% in the second quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider’s stock worth $325,000 after purchasing an additional 135 shares during the last quarter. Tranquilli Financial Advisor LLC boosted its position in shares of Omnicom Group by 2.0% during the second quarter. Tranquilli Financial Advisor LLC now owns 7,610 shares of the business services provider’s stock valued at $554,000 after buying an additional 148 shares during the last quarter. Great Lakes Retirement Inc. boosted its position in shares of Omnicom Group by 0.7% during the third quarter. Great Lakes Retirement Inc. now owns 20,675 shares of the business services provider’s stock valued at $1,539,000 after buying an additional 148 shares during the last quarter. Quest 10 Wealth Builders Inc. boosted its position in shares of Omnicom Group by 25.4% during the third quarter. Quest 10 Wealth Builders Inc. now owns 745 shares of the business services provider’s stock valued at $55,000 after buying an additional 151 shares during the last quarter. Finally, Kestra Investment Management LLC grew its holdings in Omnicom Group by 2.5% during the third quarter. Kestra Investment Management LLC now owns 6,699 shares of the business services provider’s stock worth $493,000 after buying an additional 163 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Omnicom Group from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Argus raised shares of Omnicom Group to a “hold” rating in a report on Monday, September 14th. Morgan Stanley lifted their price objective on shares of Omnicom Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. Citigroup reduced their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.67.

Omnicom Group Stock Performance

Shares of OMC opened at $88.58 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 49.49, a PEG ratio of 0.81 and a beta of 0.72. The stock has a 50 day moving average of $79.57 and a 200 day moving average of $78.45. 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 data on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the firm earned $2.24 earnings per share. The business’s revenue was up 59.1% on a year-over-year basis. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 10.37 earnings per share for the current year.

Insider Activity

In other news, Director Linda Rice sold 1,385 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.

Omnicom is headquartered in New York.