Welch & Forbes LLC Sells 8,002 Shares of Omnicom Group Inc. $OMC

Welch & Forbes LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 264,498 shares of the business services provider’s stock after selling 8,002 shares during the quarter. Welch & Forbes LLC’s holdings in Omnicom Group were worth $19,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OMC. Harbor Asset Planning Inc. bought a new stake in shares of Omnicom Group in the second quarter worth $29,000. Zions Bancorporation National Association UT bought a new position in shares of Omnicom Group during the first quarter worth about $34,000. Ameritas Advisory Services LLC acquired a new position in shares of Omnicom Group in the second quarter worth approximately $34,000. Gen Wealth Partners Inc bought a new stake in Omnicom Group in the first quarter valued at approximately $36,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Omnicom Group in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Omnicom Group Trading Down 0.1%

NYSE:OMC opened at $74.95 on Friday. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.43 and a beta of 0.96. The firm has a fifty day simple moving average of $77.71 and a two-hundred day simple moving average of $75.15.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Profile

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.