Mitsubishi UFJ Asset Management Co. Ltd. Purchases 32,049 Shares of Omnicom Group Inc. $OMC

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Omnicom Group Inc. (NYSE:OMC) by 9.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 382,245 shares of the business services provider’s stock after acquiring an additional 32,049 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Omnicom Group worth $27,499,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group in the 2nd quarter worth approximately $29,000. Zions Bancorporation National Association UT bought a new stake in Omnicom Group during the first quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new stake in Omnicom Group during the first quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new position in Omnicom Group in the second quarter worth approximately $34,000. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group in the first quarter worth approximately $43,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 1.5%

Shares of OMC stock opened at $73.87 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a fifty day simple moving average of $77.04 and a two-hundred day simple moving average of $75.16. The firm has a market capitalization of $14.26 billion, a PE ratio of 10.91, a PEG ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $105.99.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on OMC. Barclays upped their price objective on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $96.57.

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.