Letko Brosseau & Associates Inc. Makes New $29.46 Million Investment in Omnicom Group Inc. $OMC

Letko Brosseau & Associates Inc. bought a new stake in Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 400,110 shares of the business services provider’s stock, valued at approximately $29,460,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Omnicom Group during the second quarter valued at $25,000. Jacobi Capital Management LLC bought a new position in Omnicom Group in the third quarter valued at about $28,000. Clearstead Trust LLC bought a new position in Omnicom Group in the second quarter valued at about $36,000. Raiffeisen Bank International AG increased its position in Omnicom Group by 119.7% in the second quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock worth $37,000 after purchasing an additional 274 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new stake in Omnicom Group in the third quarter worth about $37,000. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the subject of several recent research reports. Argus raised Omnicom Group to a “hold” rating in a report on Monday, September 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Wells Fargo & Company lifted their price target on shares of Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, Citigroup dropped their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.67.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Omnicom Group Stock Performance

OMC stock opened at $86.74 on Friday. The business’s fifty day moving average is $79.75 and its 200-day moving average is $78.58. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The company has a market cap of $23.67 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.83 and a beta of 0.72. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company earned $2.24 EPS. The firm’s revenue was up 59.1% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post 10.23 EPS for the current year.

Omnicom Group Company 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.