Brooklyn Investment Group Acquires Shares of 529 Omnicom Group Inc. (NYSE:OMC)

Brooklyn Investment Group acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 529 shares of the business services provider’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also bought and sold shares of OMC. Bank of New York Mellon Corp grew its holdings in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Omnicom Group in the second quarter worth $56,177,000. Dimensional Fund Advisors LP boosted 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 acquiring an additional 364,665 shares during the period. Conning Inc. bought a new position in shares of Omnicom Group in the second quarter worth $32,484,000. Finally, Millennium Management LLC boosted its holdings in shares of Omnicom Group by 73.0% in the second quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock worth $68,919,000 after acquiring an additional 324,196 shares during the period. 91.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’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 completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.5 %

NYSE OMC opened at $104.82 on Friday. The stock’s 50-day simple moving average is $102.47 and its two-hundred day simple moving average is $97.07. Omnicom Group Inc. has a twelve month low of $79.68 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.34 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results 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 return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group raised their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Barclays raised their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Macquarie lifted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

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.