Keybank National Association OH Sells 1,175 Shares of Omnicom Group Inc. $OMC

Keybank National Association OH lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,262 shares of the business services provider’s stock after selling 1,175 shares during the quarter. Keybank National Association OH’s holdings in Omnicom Group were worth $1,386,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hantz Financial Services Inc. bought a new stake in Omnicom Group during the second quarter worth $47,000. World Investment Advisors grew its stake in Omnicom Group by 63.6% in the 2nd quarter. World Investment Advisors now owns 34,287 shares of the business services provider’s stock valued at $2,467,000 after purchasing an additional 13,334 shares during the period. Econ Financial Services Corp bought a new position in Omnicom Group in the 2nd quarter valued at $643,000. Oarsman Capital Inc. bought a new position in Omnicom Group in the 2nd quarter valued at $838,000. Finally, New York Life Investment Management LLC grew its stake in Omnicom Group by 0.7% in the 2nd quarter. New York Life Investment Management LLC now owns 29,273 shares of the business services provider’s stock valued at $2,106,000 after purchasing an additional 195 shares during the period. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. reduced their price objective on 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 upped their price objective on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Stock Down 0.1%

Shares of NYSE OMC opened at $74.95 on Monday. Omnicom Group Inc. has a one year low of $68.37 and a one 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. The business’s fifty day moving average price is $77.71 and its 200-day moving average price is $75.17. The stock has a market capitalization of $14.46 billion, a PE ratio of 11.07, a P/E/G ratio of 1.43 and a beta of 0.96.

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

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.