913,299 Omnicom Group Inc. $OMC Shares Acquired by Aberdeen Group plc

Aberdeen Group plc raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 582.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,069,968 shares of the business services provider’s stock after acquiring an additional 913,299 shares during the quarter. Aberdeen Group plc’s holdings in Omnicom Group were worth $78,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in shares of Omnicom Group by 2.5% during the 3rd quarter. Allworth Financial LP now owns 7,924 shares of the business services provider’s stock worth $577,000 after buying an additional 191 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Omnicom Group in the third quarter valued at about $29,460,000. Maryland State Retirement & Pension System increased its position in shares of Omnicom Group by 3.1% in the third quarter. Maryland State Retirement & Pension System now owns 16,001 shares of the business services provider’s stock valued at $1,178,000 after acquiring an additional 475 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in Omnicom Group during the third quarter worth about $28,000. Finally, Confluence Wealth Services Inc. raised its holdings in Omnicom Group by 129.4% during the third quarter. Confluence Wealth Services Inc. now owns 10,480 shares of the business services provider’s stock worth $772,000 after acquiring an additional 5,911 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Insider Activity at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reduced their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price target on Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Argus upgraded Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 28th. Finally, Barclays decreased their target price on shares of Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, October 26th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.67.

Omnicom Group Stock Performance

Omnicom Group stock traded up $1.12 during midday trading on Friday, reaching $87.96. 1,471,800 shares of the company’s stock were exchanged, compared to its average volume of 3,009,546. The stock’s 50-day simple moving average is $79.82 and its 200 day simple moving average is $78.63. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 0.81 and a beta of 0.72. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.91. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.06. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the company earned $2.24 earnings per share. The business’s revenue for the quarter was up 59.1% compared to the same quarter last year. On average, analysts expect that Omnicom Group Inc. will post 10.23 earnings per share for the current fiscal year.

Omnicom Group Profile

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing. The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.