Nordea Investment Management AB Grows Position in Omnicom Group Inc. $OMC

Nordea Investment Management AB raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,118 shares of the business services provider’s stock after buying an additional 1,227 shares during the quarter. Nordea Investment Management AB’s holdings in Omnicom Group were worth $1,226,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. purchased a new position in Omnicom Group during the 2nd quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in Omnicom Group during the 1st quarter valued at approximately $34,000. Gen Wealth Partners Inc bought a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new stake in shares of Omnicom Group in the 2nd quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $80.40 on Friday. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The firm has a market capitalization of $15.57 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.59 and a beta of 0.96. The stock has a 50 day moving average price of $77.80 and a 200 day moving average price of $75.05.

Omnicom Group (NYSE:OMC) last issued 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 return on equity of 33.66% and a net margin of 8.31%.The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company earned $2.03 EPS. Omnicom Group’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Omnicom Group

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.