Econ Financial Services Corp Buys New Shares in Omnicom Group Inc. $OMC

Econ Financial Services Corp bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, HoldingsChannel reports. The firm bought 8,944 shares of the business services provider’s stock, valued at approximately $643,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in Omnicom Group in the second quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the first quarter valued at $34,000. Gen Wealth Partners Inc acquired a new position in Omnicom Group in the first quarter valued at $36,000. Ameritas Advisory Services LLC acquired a new position in Omnicom Group in the second quarter valued at $34,000. Finally, Golden State Wealth Management LLC increased its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 2.9%

NYSE:OMC opened at $76.90 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The firm has a 50-day moving average of $77.90 and a 200-day moving average of $75.17. The company has a market cap of $14.84 billion, a PE ratio of 11.36, a PEG ratio of 1.52 and a beta of 0.96. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. As a group, equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OMC. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Barclays lifted their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $96.57.

Omnicom Group Profile

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.