Assetmark Inc. Purchases 119,012 Shares of Omnicom Group Inc. $OMC

Assetmark Inc. increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 665,170 shares of the business services provider’s stock after purchasing an additional 119,012 shares during the quarter. Assetmark Inc.’s holdings in Omnicom Group were worth $47,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Omnicom Group during the second quarter worth about $29,000. Zions Bancorporation National Association UT bought a new stake in Omnicom Group during the first quarter worth about $34,000. Ameritas Advisory Services LLC bought a new stake in Omnicom Group during the second quarter worth about $34,000. Gen Wealth Partners Inc bought a new stake in Omnicom Group during the first quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Omnicom Group in the first quarter worth about $43,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Barclays increased their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Stock Down 0.2%

Shares of NYSE OMC opened at $75.08 on Friday. The company has a 50 day simple moving average of $77.80 and a 200 day simple moving average of $75.17. The firm has a market cap of $14.49 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.03 EPS. On average, research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

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.