Omnicom Group Inc. $OMC Shares Sold by KBC Group NV

KBC Group NV decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 74.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,461 shares of the business services provider’s stock after selling 389,834 shares during the quarter. KBC Group NV’s holdings in Omnicom Group were worth $9,530,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in Omnicom Group in the second quarter valued at approximately $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Omnicom Group in the 1st quarter valued at $34,000. Gen Wealth Partners Inc acquired a new position in shares of Omnicom Group in the 1st quarter valued at $36,000. Ameritas Advisory Services LLC purchased a new stake in Omnicom Group during the second quarter worth $34,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Omnicom Group during the first quarter valued at $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, Barclays increased their target price on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

Omnicom Group Price Performance

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

Omnicom Group (NYSE:OMC) last issued 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. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

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.