ProShare Advisors LLC Buys 1,084 Shares of Omnicom Group Inc. $OMC

ProShare Advisors LLC raised its stake in Omnicom Group Inc. (NYSE:OMC) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,951 shares of the business services provider’s stock after purchasing an additional 1,084 shares during the period. ProShare Advisors LLC’s holdings in Omnicom Group were worth $3,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in shares of Omnicom Group during the first quarter worth $947,000. Dakota Wealth Management acquired a new stake in shares of Omnicom Group in the 1st quarter worth $217,000. Whittier Trust Co. of Nevada Inc. grew its stake in Omnicom Group by 651.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,675 shares of the business services provider’s stock worth $139,000 after buying an additional 1,452 shares during the last quarter. Wealthfront Advisers LLC increased its position in Omnicom Group by 7.3% during the 1st quarter. Wealthfront Advisers LLC now owns 26,669 shares of the business services provider’s stock valued at $2,211,000 after buying an additional 1,811 shares in the last quarter. Finally, Dynasty Wealth Management LLC raised its stake in Omnicom Group by 3.7% in the first quarter. Dynasty Wealth Management LLC now owns 11,666 shares of the business services provider’s stock valued at $967,000 after buying an additional 415 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OMC shares. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Finally, Barclays boosted their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock 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 given a Hold rating to the stock. According to data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Trading Down 1.3%

Omnicom Group stock opened at $72.13 on Friday. The stock has a 50-day moving average price of $76.72 and a 200 day moving average price of $75.11. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $105.99. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last posted 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 net margin of 8.31% and a return on equity of 33.30%. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm posted $2.03 EPS. Omnicom Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current 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.