CreativeOne Wealth LLC Buys New Shares in Omnicom Group Inc. (NYSE:OMC)

CreativeOne Wealth LLC purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,507 shares of the business services provider’s stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 37.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Omnicom Group in the second quarter valued at $56,177,000. Dimensional Fund Advisors LP grew its holdings in shares of Omnicom Group by 18.9% during 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 buying an additional 364,665 shares during the last quarter. Conning Inc. bought a new stake in shares of Omnicom Group during the second quarter worth about $32,484,000. Finally, Millennium Management LLC raised its holdings in shares of Omnicom Group by 73.0% in the 2nd quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after acquiring an additional 324,196 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 0.2 %

Shares of OMC stock opened at $105.00 on Tuesday. Omnicom Group Inc. has a 12-month low of $80.92 and a 12-month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $102.53 and a 200-day moving average of $97.13. The firm has a market cap of $20.49 billion, a P/E ratio of 14.34, a PEG ratio of 2.35 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion for 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 period in the previous year, the company posted $1.86 earnings per share. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on OMC shares. Barclays lifted their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Macquarie lifted their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

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.