JPMorgan Chase & Co. Buys 554,724 Shares of Omnicom Group Inc. (OMC)

JPMorgan Chase & Co. boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 219.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807,640 shares of the business services provider’s stock after purchasing an additional 554,724 shares during the quarter. JPMorgan Chase & Co.’s holdings in Omnicom Group were worth $54,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Omnicom Group by 1.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 720,684 shares of the business services provider’s stock worth $49,021,000 after acquiring an additional 10,348 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in Omnicom Group by 14.4% in the third quarter. Comgest Global Investors S.A.S. now owns 65,000 shares of the business services provider’s stock worth $4,421,000 after acquiring an additional 8,200 shares in the last quarter. ING Groep NV acquired a new stake in Omnicom Group in the third quarter worth about $318,000. Bessemer Group Inc. boosted its holdings in Omnicom Group by 10.6% in the third quarter. Bessemer Group Inc. now owns 103,545 shares of the business services provider’s stock worth $7,043,000 after acquiring an additional 9,925 shares in the last quarter. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its holdings in Omnicom Group by 96.1% in the third quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 55,900 shares of the business services provider’s stock worth $3,802,000 after acquiring an additional 27,390 shares in the last quarter.

Omnicom Group stock opened at $74.88 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.87 and a quick ratio of 0.77. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $83.34. The stock has a market cap of $16.78 billion, a P/E ratio of 13.54, a PEG ratio of 2.05 and a beta of 0.77.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.68 billion. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, equities analysts anticipate that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Citigroup raised their price target on Omnicom Group from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Barclays set a $76.00 target price on Omnicom Group and gave the stock a “sell” rating in a report on Wednesday, October 17th. ValuEngine raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Pivotal Research lifted their target price on Omnicom Group from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, October 16th. Finally, Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $75.40.

In related news, Director Linda Johnson Rice sold 533 shares of Omnicom Group stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $76.28, for a total transaction of $40,657.24. Following the completion of the transaction, the director now directly owns 8,027 shares in the company, valued at $612,299.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan B. Nelson sold 13,000 shares of Omnicom Group stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $77.38, for a total value of $1,005,940.00. Following the transaction, the chief executive officer now owns 58,569 shares of the company’s stock, valued at $4,532,069.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,233 shares of company stock valued at $1,098,528. 1.20% of the stock is owned by company insiders.

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About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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