Envestnet Asset Management Inc. Boosts Stock Holdings in Omnicom Group Inc. $OMC

Envestnet Asset Management Inc. raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 8.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,579,600 shares of the business services provider’s stock after acquiring an additional 118,567 shares during the period. Envestnet Asset Management Inc.’s holdings in Omnicom Group were worth $113,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group during the second quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new position in shares of Omnicom Group during the first quarter valued at about $34,000. Ameritas Advisory Services LLC bought a new position in shares of Omnicom Group during the second quarter valued at about $34,000. Gen Wealth Partners Inc bought a new position in shares of Omnicom Group during the first quarter valued at about $36,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 343 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on OMC shares. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Barclays upped their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $96.57.

Omnicom Group Price Performance

OMC stock opened at $76.90 on Wednesday. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a market cap of $14.84 billion, a P/E ratio of 11.36, a PEG ratio of 1.52 and a beta of 0.96. The firm has a 50-day moving average of $77.90 and a 200 day moving average of $75.17. 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 announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating 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 business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group 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.