Empowered Funds LLC Raises Stake in Omnicom Group Inc. (NYSE:OMC)

Empowered Funds LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,709 shares of the business services provider’s stock after purchasing an additional 4,643 shares during the quarter. Empowered Funds LLC owned 0.06% of Omnicom Group worth $11,136,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OMC. Jacobs Levy Equity Management Inc. increased its position in Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after purchasing an additional 1,104,566 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Omnicom Group in the second quarter worth about $56,177,000. Boston Partners grew its holdings in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after purchasing an additional 383,560 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after purchasing an additional 364,665 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This trade represents a 16.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

OMC has been the subject of a number of research reports. Barclays upped their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Bank of America upped their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. UBS Group increased their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Macquarie increased their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Performance

NYSE:OMC traded down $3.20 during midday trading on Friday, hitting $101.84. The company’s stock had a trading volume of 370,001 shares, compared to its average volume of 1,511,148. Omnicom Group Inc. has a fifty-two week low of $76.90 and a fifty-two week high of $107.00. The firm’s 50 day moving average is $102.09 and its 200-day moving average is $96.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market cap of $19.87 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.32 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the company earned $1.86 EPS. Equities analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share 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.