Laurion Capital Management LP lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 35.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,856 shares of the business services provider’s stock after selling 7,128 shares during the period. Laurion Capital Management LP’s holdings in Omnicom Group were worth $874,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. First Republic Investment Management Inc. grew its stake in shares of Omnicom Group by 3.6% during the third quarter. First Republic Investment Management Inc. now owns 139,675 shares of the business services provider’s stock worth $9,501,000 after acquiring an additional 4,901 shares during the last quarter. Assetmark Inc. grew its stake in shares of Omnicom Group by 3.7% during the third quarter. Assetmark Inc. now owns 355,380 shares of the business services provider’s stock worth $24,173,000 after acquiring an additional 12,722 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Omnicom Group by 73.0% during the third quarter. Riverhead Capital Management LLC now owns 93,229 shares of the business services provider’s stock worth $6,342,000 after acquiring an additional 39,350 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Omnicom Group by 219.3% during the third quarter. JPMorgan Chase & Co. now owns 807,640 shares of the business services provider’s stock worth $54,936,000 after acquiring an additional 554,724 shares during the last quarter. Finally, Kiltearn Partners LLP grew its stake in shares of Omnicom Group by 7.5% during the third quarter. Kiltearn Partners LLP now owns 1,953,965 shares of the business services provider’s stock worth $132,909,000 after acquiring an additional 136,666 shares during the last quarter.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $75.85, for a total value of $37,925.00. Following the completion of the transaction, the treasurer now directly owns 45,610 shares of the company’s stock, valued at $3,459,518.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan B. Nelson sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $77.38, for a total value of $1,005,940.00. Following the completion of the transaction, the chief executive officer now directly owns 58,569 shares of the company’s stock, valued at $4,532,069.22. The disclosure for this sale can be found here. Insiders have sold 14,233 shares of company stock valued at $1,098,528 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have recently weighed in on OMC. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Pivotal Research boosted their price target on Omnicom Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research note on Tuesday, October 16th. Citigroup boosted their price target on Omnicom Group from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. Finally, Barclays lowered Omnicom Group from an “equal weight” rating to a “sell” rating and set a $75.00 price target on the stock. in a research note on Friday, September 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and an average price target of $75.40.
Omnicom Group stock opened at $75.84 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.87 and a quick ratio of 0.77. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $83.34. The stock has a market cap of $16.92 billion, a P/E ratio of 14.87, a PEG ratio of 2.07 and a beta of 0.76.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.
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Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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