Omnicom Group Inc. $OMC Stake Lifted by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 129.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,480 shares of the business services provider’s stock after purchasing an additional 5,911 shares during the period. Confluence Wealth Services Inc.’s holdings in Omnicom Group were worth $772,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OMC. BlackRock Inc. purchased a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $2,082,476,000. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group during the second quarter valued at approximately $914,156,000. First Eagle Investment Management LLC increased its holdings 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 buying an additional 40,096 shares during the period. Baird Financial Group Inc. increased its holdings 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 buying an additional 142,082 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Omnicom Group by 116.2% during 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 buying an additional 1,530,743 shares during the period. Institutional investors own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of Omnicom Group stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Omnicom Group Stock Down 0.1%

Shares of Omnicom Group stock opened at $88.80 on Thursday. The firm’s 50 day moving average price is $79.65 and its 200-day moving average price is $78.54. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The company has a market cap of $24.23 billion, a P/E ratio of 49.61, a PEG ratio of 0.83 and a beta of 0.72.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, topping the consensus estimate of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the business posted $2.24 EPS. Omnicom Group’s revenue was up 59.1% on a year-over-year basis. On average, sell-side analysts predict that Omnicom Group Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OMC has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. JPMorgan Chase & Co. dropped their target price on Omnicom Group from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Morgan Stanley lifted their price target on Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Zacks Research raised Omnicom Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.67.

About Omnicom Group

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing. The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.