Omnicom Group Inc. $OMC Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Omnicom Group stake by 77.9% in the third quarter, purchasing 100,555 additional shares and ending the period with 229,598 shares worth approximately $16.9 million.
• Institutional investors own 91.97% of Omnicom’s shares, while analysts maintain a generally neutral outlook: four rate it Buy, six Hold, and one Sell, with a consensus price target of $98.75.
• Omnicom’s latest quarterly revenue rose 63.4% year over year to $6.56 billion, exceeding estimates, although earnings per share of $2.65 narrowly missed the $2.67 consensus forecast.

Assenagon Asset Management S.A. increased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 77.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,598 shares of the business services provider's stock after buying an additional 100,555 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Omnicom Group worth $16,905,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH grew its stake in Omnicom Group by 0.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 439,975 shares of the business services provider's stock valued at $32,395,000 after acquiring an additional 1,588 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in shares of Omnicom Group by 4.9% during the third quarter. ZWJ Investment Counsel Inc. now owns 500,416 shares of the business services provider's stock valued at $36,846,000 after acquiring an additional 23,409 shares in the last quarter. Columbus Macro LLC raised its position in shares of Omnicom Group by 9.1% during the third quarter. Columbus Macro LLC now owns 3,175 shares of the business services provider's stock worth $234,000 after purchasing an additional 266 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Omnicom Group during the third quarter worth approximately $318,000. Finally, Krilogy Financial LLC lifted its holdings in shares of Omnicom Group by 4.8% in the 3rd quarter. Krilogy Financial LLC now owns 4,381 shares of the business services provider's stock worth $338,000 after purchasing an additional 201 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OMC. Wells Fargo & Company raised their target price on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Argus upgraded Omnicom Group to a "hold" rating in a research report on Monday, September 14th. Zacks Research upgraded shares of Omnicom Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Barclays reduced their target price on Omnicom Group from $90.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Friday, October 9th. Finally, Citigroup decreased their target price on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Omnicom Group currently has an average rating of "Hold" and a consensus price target of $98.75.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Omnicom Group Trading Up 0.0%

Omnicom Group stock opened at $80.58 on Monday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The business's fifty day moving average is $80.94 and its 200 day moving average is $78.33. The stock has a market capitalization of $22.11 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the company earned $2.05 earnings per share. Omnicom Group's quarterly revenue was up 63.4% compared to the same quarter last year. On average, sell-side analysts predict that Omnicom Group Inc. will post 10.50 EPS for the current year.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.

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