Creative Planning Sells 7,867 Shares of Omnicom Group Inc. $OMC

Creative Planning lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 13.1% during the 2nd quarter, Holdings Channel reports. The firm owned 52,222 shares of the business services provider’s stock after selling 7,867 shares during the period. Creative Planning’s holdings in Omnicom Group were worth $3,757,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OMC. Robinson Value Management Ltd. lifted its holdings in Omnicom Group by 0.4% in the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock valued at $2,837,000 after buying an additional 139 shares during the period. Financial Advisors Network Inc. raised its position in shares of Omnicom Group by 6.1% during the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 159 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Omnicom Group by 2.7% in the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 168 shares during the period. Harbour Investments Inc. boosted its position in shares of Omnicom Group by 39.1% in the 1st quarter. Harbour Investments Inc. now owns 616 shares of the business services provider’s stock worth $51,000 after purchasing an additional 173 shares during the last quarter. Finally, EPG Wealth Management LLC grew its stake in shares of Omnicom Group by 2.3% during the second quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on OMC. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Barclays lifted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company 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. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Price Performance

Shares of OMC opened at $74.76 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a 50 day simple moving average of $76.26 and a 200 day simple moving average of $74.99. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $105.99. The firm has a market capitalization of $14.43 billion, a PE ratio of 11.04, a P/E/G ratio of 1.43 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company posted $2.03 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal 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.