Principal Financial Group Inc. Sells 24,664 Shares of Omnicom Group Inc. (OMC)
Principal Financial Group Inc. reduced its position in Omnicom Group Inc. (NYSE:OMC) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,582 shares of the business services provider’s stock after selling 24,664 shares during the quarter. Principal Financial Group Inc. owned 0.19% of Omnicom Group worth $33,078,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Jensen Investment Management Inc. raised its holdings in shares of Omnicom Group by 11.3% in the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after acquiring an additional 354,285 shares in the last quarter. Chatham Capital Group Inc. raised its holdings in shares of Omnicom Group by 2.7% in the second quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock valued at $9,233,000 after acquiring an additional 2,965 shares in the last quarter. Victory Capital Management Inc. grew its stake in Omnicom Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock valued at $2,271,000 after purchasing an additional 3,822 shares during the last quarter. Homrich & Berg grew its stake in Omnicom Group by 10.3% in the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock valued at $676,000 after purchasing an additional 762 shares during the last quarter. Finally, Comgest Global Investors S.A.S. grew its stake in Omnicom Group by 2.2% in the second quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock valued at $11,316,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.
In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of the company’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the sale, the director now directly owns 7,777 shares in the company, valued at approximately $577,986.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
Omnicom Group Inc. (NYSE OMC) opened at $69.44 on Friday. Omnicom Group Inc. has a 52 week low of $65.32 and a 52 week high of $89.66. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. The firm has a market capitalization of $15,570.00, a P/E ratio of 13.61, a PEG ratio of 1.83 and a beta of 1.22.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company earned $1.06 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. research analysts anticipate that Omnicom Group Inc. will post 5.11 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, October 18th. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada dropped their price target on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $84.00.
Omnicom Group Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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