Legal & General Group Plc Increases Stock Holdings in Omnicom Group Inc. $OMC

Legal & General Group Plc increased its position in Omnicom Group Inc. (NYSE:OMC) by 8.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,383,632 shares of the business services provider’s stock after acquiring an additional 111,788 shares during the quarter. Legal & General Group Plc owned about 0.71% of Omnicom Group worth $99,538,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT bought a new stake in Omnicom Group during the first quarter valued at $34,000. Ameritas Advisory Services LLC purchased a new position in Omnicom Group during the second quarter worth about $34,000. Gen Wealth Partners Inc purchased a new position in Omnicom Group during the first quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC bought a new position in Omnicom Group in the 1st quarter worth about $43,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.2%

Shares of OMC opened at $74.99 on Tuesday. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $105.99. 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 stock has a 50 day simple moving average of $76.23 and a two-hundred day simple moving average of $74.97. The firm has a market cap of $14.47 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.43 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its quarterly 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. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $2.03 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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