Thrivent Financial for Lutherans Purchases 8,643 Shares of Omnicom Group Inc. (NYSE:OMC)

Thrivent Financial for Lutherans increased its position in Omnicom Group Inc. (NYSE:OMC) by 40.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,750 shares of the business services provider’s stock after acquiring 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners raised its position in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares during the period. Bank of New York Mellon Corp raised its holdings in Omnicom Group by 37.0% during the 2nd 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 acquiring an additional 892,494 shares during the period. Cooke & Bieler LP lifted its position in shares of Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after acquiring an additional 109,406 shares in the last quarter. 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. Finally, Envestnet Asset Management Inc. grew its position in shares of Omnicom Group by 6.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider’s stock valued at $127,398,000 after purchasing an additional 81,598 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 2.2 %

Shares of NYSE:OMC opened at $104.61 on Tuesday. The stock’s 50-day simple moving average is $102.32 and its two-hundred day simple moving average is $96.85. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.30 and a beta of 0.95. Omnicom Group Inc. has a 52-week low of $78.90 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. Analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insider Buying and Selling at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OMC shares. Bank of America increased their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price 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.