Evelyn Partners Investment Management Services Ltd Sells 29,218 Shares of Omnicom Group Inc. $OMC

Evelyn Partners Investment Management Services Ltd cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 96.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,042 shares of the business services provider’s stock after selling 29,218 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Omnicom Group were worth $75,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OMC. Private Advisor Group LLC raised its holdings in Omnicom Group by 3.0% in the 1st quarter. Private Advisor Group LLC now owns 11,966 shares of the business services provider’s stock worth $992,000 after purchasing an additional 351 shares during the period. Journey Strategic Wealth LLC purchased a new stake in Omnicom Group in the first quarter worth about $385,000. One Wealth Advisors LLC bought a new position in shares of Omnicom Group in the first quarter worth about $208,000. Avantax Advisory Services Inc. raised its stake in shares of Omnicom Group by 12.7% in the first quarter. Avantax Advisory Services Inc. now owns 19,205 shares of the business services provider’s stock worth $1,592,000 after buying an additional 2,168 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Omnicom Group by 1.2% during the 1st quarter. Cetera Investment Advisers now owns 131,034 shares of the business services provider’s stock valued at $10,864,000 after buying an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC stock opened at $74.76 on Friday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $105.99. The company’s fifty day moving average price is $76.26 and its 200-day moving average price is $74.99. 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 company has a market capitalization of $14.43 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

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

Omnicom Group Company 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.