Empowered Funds LLC Grows Stock Position in Omnicom Group Inc. $OMC

Empowered Funds LLC grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 280.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,632 shares of the business services provider’s stock after acquiring an additional 125,817 shares during the quarter. Empowered Funds LLC’s holdings in Omnicom Group were worth $12,275,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OMC. Harbor Asset Planning Inc. purchased a new position in shares of Omnicom Group in the 2nd quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new stake in Omnicom Group during the 1st quarter worth approximately $34,000. Ameritas Advisory Services LLC acquired a new position in Omnicom Group during the 2nd quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group in the first quarter worth $36,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Omnicom Group in the first quarter worth $43,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OMC. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, Barclays boosted their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Stock Performance

NYSE OMC opened at $73.58 on Wednesday. The firm has a market capitalization of $14.20 billion, a P/E ratio of 10.87, a PEG ratio of 1.43 and a beta of 0.94. The stock has a 50-day simple moving average of $76.52 and a two-hundred day simple moving average of $75.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $105.99.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share 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.