BKM Wealth Management LLC Takes Position in Omnicom Group Inc. (NYSE:OMC)

BKM Wealth Management LLC bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the third quarter, Holdings Channel reports. The institutional investor bought 12,782 shares of the business services provider’s stock, valued at approximately $1,322,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resonant Capital Advisors LLC increased its position in Omnicom Group by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after buying an additional 97 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Omnicom Group by 17.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after purchasing an additional 97 shares in the last quarter. Iowa State Bank raised its stake in Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after purchasing an additional 101 shares during the last quarter. Center For Asset Management LLC lifted its holdings in Omnicom Group by 2.6% in the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 107 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Omnicom Group by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock worth $1,049,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $100.52 on Friday. The company has a market cap of $19.69 billion, a PE ratio of 13.58, a P/E/G ratio of 2.39 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $73.58 and a 12 month high of $106.51. The company has a fifty day moving average price of $100.83 and a two-hundred day moving average price of $95.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. Research analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.