Ethic Inc. Sells 10,949 Shares of Omnicom Group Inc. $OMC

Key Points

• Ethic Inc. reduced its stake in Omnicom Group Inc. by 23.7%, selling 10,949 shares and leaving it with a total of 35,279 shares valued at approximately $2.5 million.
• Multiple large investors, including Brookstone Capital Management and Crux Wealth Advisors, have increased their holdings in Omnicom Group, reflecting positive investor sentiment.
• Omnicom Group reported strong earnings for the last quarter, with an EPS of $2.24, surpassing estimates, and a year-over-year revenue increase of 4.0%.

Ethic Inc. lowered its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 23.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,279 shares of the business services provider's stock after selling 10,949 shares during the period. Ethic Inc.'s holdings in Omnicom Group were worth $2,517,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Brookstone Capital Management increased its position in shares of Omnicom Group by 23.7% in the 2nd quarter. Brookstone Capital Management now owns 3,623 shares of the business services provider's stock valued at $261,000 after buying an additional 694 shares in the last quarter. Studio Investment Management LLC increased its holdings in Omnicom Group by 5.8% during the 2nd quarter. Studio Investment Management LLC now owns 9,641 shares of the business services provider's stock worth $700,000 after purchasing an additional 530 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Omnicom Group by 0.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 176,763 shares of the business services provider's stock worth $12,716,000 after purchasing an additional 1,285 shares in the last quarter. Greenup Street Wealth Management LLC increased its holdings in Omnicom Group by 13.5% during the 2nd quarter. Greenup Street Wealth Management LLC now owns 3,234 shares of the business services provider's stock worth $233,000 after purchasing an additional 384 shares in the last quarter. Finally, Crux Wealth Advisors increased its holdings in Omnicom Group by 88.0% during the 2nd quarter. Crux Wealth Advisors now owns 6,200 shares of the business services provider's stock worth $446,000 after purchasing an additional 2,902 shares in the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Trading Down 1.7%

Shares of NYSE:OMC opened at $78.97 on Friday. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The company has a market capitalization of $15.24 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. The company has a 50-day simple moving average of $77.85 and a 200 day simple moving average of $75.11. 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 (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $2.03 EPS. Omnicom Group's revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OMC shares. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a report on Wednesday, October 8th. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Barclays increased their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.57.

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.

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