Kestra Investment Management LLC Takes Position in Omnicom Group Inc. (NYSE:OMC)

Kestra Investment Management LLC acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,538 shares of the business services provider’s stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Cooke & Bieler LP lifted its position in Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Omnicom Group by 6.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider’s stock worth $127,398,000 after purchasing an additional 81,598 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Omnicom Group by 0.3% during the second quarter. American Century Companies Inc. now owns 997,959 shares of the business services provider’s stock worth $89,517,000 after purchasing an additional 2,797 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Macquarie raised their price objective on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Bank of America upped their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average price target of $110.11.

Insiders Place Their Bets

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.2 %

Shares of Omnicom Group stock opened at $105.00 on Tuesday. The stock has a market cap of $20.49 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The firm has a fifty day moving average price of $102.53 and a 200 day moving average price of $97.13. Omnicom Group Inc. has a 1 year low of $80.92 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter last year, the business posted $1.86 EPS. Equities research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current 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.