Omnicom Group Inc. (NYSE:OMC) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in Omnicom Group Inc. (NYSE:OMC) by 40.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,750 shares of the business services provider’s stock after purchasing an additional 8,643 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Omnicom Group were worth $3,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Quent Capital LLC increased its stake in Omnicom Group by 89.1% during the 1st quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock worth $67,000 after buying an additional 326 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Omnicom Group in the 1st quarter valued at $461,000. Dynasty Wealth Management LLC purchased a new position in Omnicom Group in the 1st quarter valued at $961,000. B. Riley Wealth Advisors Inc. boosted its stake in Omnicom Group by 2.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock worth $594,000 after purchasing an additional 122 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Omnicom Group by 1.3% during the 1st quarter. California State Teachers Retirement System now owns 319,035 shares of the business services provider’s stock worth $30,870,000 after purchasing an additional 4,036 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the topic of several research reports. UBS Group raised their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie upped their price target on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Trading Up 2.2 %

NYSE OMC opened at $104.61 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $20.41 billion, a P/E ratio of 14.29, a PEG ratio of 2.30 and a beta of 0.95. The firm’s 50-day moving average is $102.32 and its two-hundred day moving average is $96.85. Omnicom Group Inc. has a 12 month low of $78.90 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter last year, the company posted $1.86 EPS. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

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.