Clearstead Trust LLC Invests $61,000 in Omnicom Group Inc. $OMC

Clearstead Trust LLC purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 847 shares of the business services provider’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in shares of Omnicom Group by 3.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 84,329 shares of the business services provider’s stock worth $6,067,000 after acquiring an additional 2,855 shares in the last quarter. J2 Capital Management Inc acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at approximately $383,000. Goldman Sachs Group Inc. lifted its stake in Omnicom Group by 42.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock worth $245,909,000 after purchasing an additional 887,415 shares during the last quarter. Defender Capital LLC. acquired a new position in Omnicom Group in the second quarter worth $360,000. Finally, Exchange Traded Concepts LLC increased its stake in Omnicom Group by 34.8% during the second quarter. Exchange Traded Concepts LLC now owns 13,300 shares of the business services provider’s stock valued at $957,000 after purchasing an additional 3,433 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the subject of several research reports. Barclays lifted their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $72.13 on Friday. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $105.99. The company has a market cap of $13.92 billion, a PE ratio of 10.65, a P/E/G ratio of 1.43 and a beta of 0.94. The stock has a 50 day simple moving average of $76.72 and a 200-day simple moving average of $75.11. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

About Omnicom Group

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.