Tredje AP fonden trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 80.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,864 shares of the business services provider’s stock after selling 65,463 shares during the quarter. Tredje AP fonden’s holdings in Omnicom Group were worth $3,520,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in Omnicom Group by 214.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 340 shares of the business services provider’s stock valued at $28,000 after buying an additional 232 shares during the period. CFM Wealth Partners LLC bought a new stake in Omnicom Group during the fourth quarter valued at approximately $32,000. Pacitti Group Inc. bought a new stake in Omnicom Group during the fourth quarter valued at approximately $36,000. Liberty Wealth Management LLC grew its position in Omnicom Group by 500.0% during the first quarter. Liberty Wealth Management LLC now owns 552 shares of the business services provider’s stock valued at $30,000 after buying an additional 460 shares during the period. Finally, Private Ocean LLC bought a new stake in Omnicom Group during the fourth quarter valued at approximately $54,000.
Shares of OMC stock traded down $0.08 during mid-day trading on Friday, hitting $51.78. The company had a trading volume of 2,024,263 shares, compared to its average volume of 2,647,279. Omnicom Group Inc. has a 52-week low of $46.37 and a 52-week high of $85.05. The stock’s 50 day moving average price is $53.50 and its 200-day moving average price is $69.46. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.92 and a quick ratio of 0.82. The company has a market capitalization of $11.11 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.70 and a beta of 0.76.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Omnicom Group had a net margin of 8.96% and a return on equity of 43.58%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Omnicom Group Inc. will post 4.36 earnings per share for the current year.
Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $90.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Morgan Stanley lowered their price target on shares of Omnicom Group from $78.00 to $57.00 and set an “underweight” rating on the stock in a report on Tuesday, April 28th. Citigroup raised shares of Omnicom Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $86.00 to $60.00 in a report on Tuesday, March 24th. ValuEngine downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Cfra lowered their price target on shares of Omnicom Group from $80.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.88.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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