Kestra Investment Management LLC Acquires Shares of 2,538 Omnicom Group Inc. (NYSE:OMC)

Kestra Investment Management LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,538 shares of the business services provider’s stock, valued at approximately $262,000.

A number of other institutional investors have also recently added to or reduced their stakes in OMC. Bank of New York Mellon Corp lifted its holdings in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Omnicom Group in the 2nd quarter worth about $56,177,000. Dimensional Fund Advisors LP increased its stake in Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after buying an additional 364,665 shares in the last quarter. Conning Inc. purchased a new position in shares of Omnicom Group in the second quarter valued at approximately $32,484,000. Finally, Millennium Management LLC boosted its stake in shares of Omnicom Group by 73.0% in the second quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after acquiring an additional 324,196 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

OMC stock opened at $105.00 on Tuesday. Omnicom Group Inc. has a 52-week low of $80.92 and a 52-week high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market cap of $20.49 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The business has a fifty day moving average of $102.53 and a two-hundred day moving average of $97.13.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $1.86 EPS. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OMC shares. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Barclays upped their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.