Bleakley Financial Group LLC Boosts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Bleakley Financial Group LLC grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,804 shares of the business services provider’s stock after purchasing an additional 963 shares during the quarter. Bleakley Financial Group LLC’s holdings in Omnicom Group were worth $2,048,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp increased its holdings in shares of Omnicom Group by 8.2% during the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 14,153 shares in the last quarter. Norden Group LLC purchased a new position in shares of Omnicom Group during the 1st quarter valued at approximately $1,860,000. Central Pacific Bank Trust Division increased its holdings in shares of Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 401 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Omnicom Group during the 1st quarter valued at approximately $1,534,000. Finally, SG Americas Securities LLC grew its stake in Omnicom Group by 37.0% in the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after acquiring an additional 17,414 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 0.7 %

Shares of OMC opened at $104.48 on Friday. Omnicom Group Inc. has a 52-week low of $73.28 and a 52-week high of $106.51. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average is $100.30 and its two-hundred day moving average is $95.27. The stock has a market cap of $20.46 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company posted $1.86 EPS. Research analysts forecast that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OMC. UBS Group lifted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays lifted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.11.

Insider Activity

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.