Omnicom Group Inc. $OMC Stock: Modera Wealth Management LLC Trims Position

Modera Wealth Management LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,107 shares of the business services provider’s stock after selling 11,785 shares during the period. Modera Wealth Management LLC owned 0.08% of Omnicom Group worth $16,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Keating Financial Advisory Services Inc. purchased a new position in Omnicom Group in the 2nd quarter valued at about $25,000. Clearstead Trust LLC acquired a new stake in shares of Omnicom Group during the 2nd quarter worth about $36,000. Raiffeisen Bank International AG grew its holdings in shares of Omnicom Group by 119.7% during the second quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock worth $37,000 after buying an additional 274 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in shares of Omnicom Group during the third quarter worth about $37,000. Finally, Triumph Capital Management grew its holdings in shares of Omnicom Group by 71.4% during the second quarter. Triumph Capital Management now owns 576 shares of the business services provider’s stock worth $42,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OMC. Zacks Research raised shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday. Wells Fargo & Company boosted their price target on Omnicom Group from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Morgan Stanley increased their price target on Omnicom Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.67.

Insider Activity

In related news, Director Linda Rice sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Omnicom Group Stock Up 0.4%

Shares of NYSE:OMC opened at $81.28 on Friday. The stock’s 50-day moving average price is $79.82 and its two-hundred day moving average price is $78.24. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 0.91. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.75 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.06. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.21 billion. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The company’s quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.24 EPS. On average, research analysts forecast that Omnicom Group Inc. will post 10.37 EPS for the current year.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.