Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Omnicom Group Inc. $OMC

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,350 shares of the business services provider’s stock, valued at approximately $5,401,000.

Several other institutional investors and hedge funds have also bought and sold shares of OMC. BlackRock Inc. acquired a new stake in shares of Omnicom Group in the second quarter worth $2,082,476,000. Bank of New York Mellon Corp acquired a new position in Omnicom Group during the second quarter valued at $914,156,000. First Eagle Investment Management LLC lifted its position in Omnicom Group by 0.5% during the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock valued at $534,806,000 after purchasing an additional 40,096 shares during the period. Baird Financial Group Inc. lifted its position in Omnicom Group by 3.0% during the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock valued at $353,380,000 after purchasing an additional 142,082 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Omnicom Group by 116.2% in the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock valued at $214,451,000 after purchasing an additional 1,530,743 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on OMC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 28th. Argus raised Omnicom Group to a “hold” rating in a report on Monday, September 14th. Morgan Stanley boosted their price objective on Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Wells Fargo & Company upped their target price on Omnicom Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Finally, Zacks Research raised Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.67.

Omnicom Group Price Performance

NYSE:OMC opened at $87.31 on Friday. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $23.82 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 0.81 and a beta of 0.72. The stock’s 50-day moving average price is $79.60 and its 200-day moving average price is $78.36.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. Omnicom Group’s quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.24 EPS. As a group, equities analysts expect that Omnicom Group Inc. will post 10.37 EPS for the current fiscal year.

Omnicom Group Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.