American International Group Inc. Cuts Holdings in Omnicom Group Inc. (OMC)
American International Group Inc. lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,431,129 shares of the business services provider’s stock after selling 29,035 shares during the period. Omnicom Group comprises 1.4% of American International Group Inc.’s portfolio, making the stock its 27th largest holding. American International Group Inc. owned approximately 2.36% of Omnicom Group worth $402,284,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in OMC. Parallel Advisors LLC raised its position in shares of Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Omnicom Group in the second quarter valued at approximately $104,000. Acrospire Investment Management LLC acquired a new position in shares of Omnicom Group in the second quarter valued at approximately $149,000. Eagle Ridge Investment Management acquired a new position in shares of Omnicom Group in the third quarter valued at approximately $201,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Omnicom Group in the third quarter valued at approximately $205,000. Institutional investors own 99.96% of the company’s stock.
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Omnicom Group Inc. (NYSE OMC) traded down $0.67 on Thursday, reaching $68.87. 1,196,900 shares of the company’s stock traded hands, compared to its average volume of 1,890,722. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a 12 month low of $65.32 and a 12 month high of $89.66. The stock has a market capitalization of $16,031.24, a P/E ratio of 13.99, a P/E/G ratio of 1.88 and a beta of 1.22.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.69 billion. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. equities research analysts anticipate that Omnicom Group Inc. will post 5.11 EPS for the current year.
In other news, Director Linda Johnson Rice sold 489 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the transaction, the director now directly owns 7,777 shares in the company, valued at $577,986.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on OMC shares. Credit Suisse Group boosted their price objective on shares of Omnicom Group from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Telsey Advisory Group raised shares of Omnicom Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $86.00 to $89.00 in a research report on Wednesday, October 18th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Friday, October 13th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and an average target price 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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