Nordea Investment Management AB Purchases 1,227 Shares of Omnicom Group Inc. $OMC

Nordea Investment Management AB raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,118 shares of the business services provider’s stock after purchasing an additional 1,227 shares during the period. Nordea Investment Management AB’s holdings in Omnicom Group were worth $1,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OMC. Wealth Enhancement Advisory Services LLC raised its position in Omnicom Group by 80.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,040 shares of the business services provider’s stock valued at $2,076,000 after purchasing an additional 11,149 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Omnicom Group during the 1st quarter valued at $1,357,000. Asset Management One Co. Ltd. raised its position in Omnicom Group by 10.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider’s stock valued at $6,755,000 after purchasing an additional 7,665 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 343 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Omnicom Group by 66.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 69,287 shares of the business services provider’s stock valued at $5,745,000 after acquiring an additional 27,592 shares during the period. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the topic of a number of analyst reports. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays lifted their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Trading Down 1.0%

Shares of NYSE:OMC opened at $80.40 on Friday. The business’s 50-day moving average is $77.80 and its 200 day moving average is $75.05. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm has a market capitalization of $15.57 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a return on equity of 33.66% and a net margin of 8.31%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $2.03 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

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.