Bank of Nova Scotia lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 24.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 27,956 shares of the business services provider’s stock after selling 9,111 shares during the period. Bank of Nova Scotia’s holdings in Omnicom Group were worth $1,778,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in OMC. Mercer Global Advisors Inc. ADV boosted its stake in shares of Omnicom Group by 8.5% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 17,838 shares of the business services provider’s stock worth $1,514,000 after buying an additional 1,398 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Omnicom Group by 17.6% in the 1st quarter. Signaturefd LLC now owns 5,488 shares of the business services provider’s stock worth $466,000 after buying an additional 820 shares during the last quarter. American Trust purchased a new position in shares of Omnicom Group in the 1st quarter worth approximately $212,000. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Omnicom Group by 13.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,755 shares of the business services provider’s stock worth $149,000 after buying an additional 210 shares during the last quarter. Finally, Kentucky Retirement Systems boosted its stake in shares of Omnicom Group by 14.6% in the 2nd quarter. Kentucky Retirement Systems now owns 15,269 shares of the business services provider’s stock worth $971,000 after buying an additional 1,948 shares during the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on OMC shares. StockNews.com started coverage on Omnicom Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Redburn Partners reiterated a “neutral” rating on shares of Omnicom Group in a research note on Thursday, September 8th. Exane BNP Paribas began coverage on Omnicom Group in a research note on Thursday, August 25th. They issued an “underperform” rating on the stock. Citigroup upped their price objective on Omnicom Group to $86.00 in a research note on Friday, July 22nd. Finally, BNP Paribas began coverage on Omnicom Group in a research note on Thursday, August 25th. They issued an “underperform” rating on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.60.
Insider Transactions at Omnicom Group
Omnicom Group Trading Up 0.1 %
Shares of OMC stock opened at $76.23 on Friday. The company’s fifty day simple moving average is $69.10 and its two-hundred day simple moving average is $69.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.95 and a quick ratio of 0.84. Omnicom Group Inc. has a 1 year low of $61.31 and a 1 year high of $91.61. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 4.27 and a beta of 0.86.
Omnicom Group (NYSE:OMC – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.09. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Omnicom Group had a net margin of 9.13% and a return on equity of 40.82%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 6.5 earnings per share for the current year.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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