Concurrent Investment Advisors LLC Purchases 281 Shares of Omnicom Group Inc. $OMC

Concurrent Investment Advisors LLC lifted its position in Omnicom Group Inc. (NYSE:OMC) by 4.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,684 shares of the business services provider’s stock after purchasing an additional 281 shares during the period. Concurrent Investment Advisors LLC’s holdings in Omnicom Group were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC lifted its holdings in Omnicom Group by 30.5% in the second quarter. Cerro Pacific Wealth Advisors LLC now owns 7,944 shares of the business services provider’s stock valued at $571,000 after acquiring an additional 1,856 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Omnicom Group by 14.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 5,164 shares of the business services provider’s stock valued at $371,000 after purchasing an additional 653 shares during the last quarter. Conning Inc. increased its position in shares of Omnicom Group by 11.3% during the 2nd quarter. Conning Inc. now owns 477,883 shares of the business services provider’s stock valued at $34,379,000 after purchasing an additional 48,461 shares during the last quarter. Shayne & Jacobs LLC lifted its stake in shares of Omnicom Group by 17.7% in the 2nd quarter. Shayne & Jacobs LLC now owns 41,321 shares of the business services provider’s stock worth $2,973,000 after purchasing an additional 6,220 shares during the period. Finally, Aberdeen Group plc boosted its holdings in shares of Omnicom Group by 4.6% in the second quarter. Aberdeen Group plc now owns 143,355 shares of the business services provider’s stock worth $10,256,000 after buying an additional 6,303 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.3%

Shares of OMC opened at $77.48 on Friday. The business’s 50 day moving average is $77.40 and its 200 day moving average is $74.89. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a market capitalization of $15.01 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reduced their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Finally, Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.29.

Omnicom Group Company 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.