HL Financial Services LLC grew its position in Omnicom Group Inc. (NYSE:OMC) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,151,938 shares of the business services provider’s stock after buying an additional 7,391 shares during the quarter. Omnicom Group accounts for approximately 1.2% of HL Financial Services LLC’s holdings, making the stock its 24th biggest holding. HL Financial Services LLC’s holdings in Omnicom Group were worth $78,355,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Omnicom Group by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 50,542 shares of the business services provider’s stock valued at $3,438,000 after buying an additional 729 shares in the last quarter. Comerica Bank increased its position in shares of Omnicom Group by 1.3% in the second quarter. Comerica Bank now owns 56,064 shares of the business services provider’s stock valued at $3,963,000 after buying an additional 742 shares in the last quarter. BKD Wealth Advisors LLC increased its position in shares of Omnicom Group by 3.3% in the second quarter. BKD Wealth Advisors LLC now owns 24,479 shares of the business services provider’s stock valued at $1,867,000 after buying an additional 773 shares in the last quarter. Boston Financial Mangement LLC increased its position in Omnicom Group by 25.9% during the 2nd quarter. Boston Financial Mangement LLC now owns 3,813 shares of the business services provider’s stock worth $291,000 after purchasing an additional 785 shares in the last quarter. Finally, AGF Investments America Inc. increased its position in Omnicom Group by 2.4% during the 2nd quarter. AGF Investments America Inc. now owns 34,890 shares of the business services provider’s stock worth $2,661,000 after purchasing an additional 810 shares in the last quarter.
Omnicom Group stock opened at $74.69 on Monday. The stock has a market cap of $16.74 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.04 and a beta of 0.77. Omnicom Group Inc. has a 52 week low of $65.32 and a 52 week high of $83.34. 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 (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 5.63 earnings per share for the current year.
In other Omnicom Group news, CEO Jonathan B. Nelson sold 13,000 shares of the firm’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $77.38, for a total value of $1,005,940.00. Following the sale, the chief executive officer now directly owns 58,569 shares of the company’s stock, valued at approximately $4,532,069.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 500 shares of the firm’s stock in a transaction dated 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 sale, the treasurer now directly owns 45,610 shares in the company, valued at $3,459,518.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,233 shares of company stock worth $1,098,528. 1.20% of the stock is owned by corporate insiders.
A number of research firms recently commented on OMC. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. Citigroup lifted their price objective on Omnicom Group from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Royal Bank of Canada dropped their price objective on Omnicom Group to $75.00 and set a “$70.60” rating for the company in a research report on Wednesday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 19th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.40.
About Omnicom Group
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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