Beck Mack & Oliver LLC continued to hold its position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,000 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Omnicom Group were worth $1,304,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Wellington Management Group LLP purchased a new position in Omnicom Group during the first quarter worth about $40,095,000. Cypress Capital Group boosted its position in shares of Omnicom Group by 58.3% in the first quarter. Cypress Capital Group now owns 11,794 shares of the company’s stock worth $982,000 after buying an additional 4,344 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Omnicom Group by 88.1% in the second quarter. Acadian Asset Management LLC now owns 12,086 shares of the company’s stock worth $984,000 after buying an additional 5,662 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Omnicom Group by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 211,987 shares of the company’s stock worth $17,275,000 after buying an additional 772 shares in the last quarter. Finally, PGGM Investments boosted its position in shares of Omnicom Group by 7.0% in the second quarter. PGGM Investments now owns 527,331 shares of the company’s stock worth $42,972,000 after buying an additional 34,588 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 1.200% during midday trading on Friday, hitting $83.055. The stock had a trading volume of 866,317 shares. The company has a market capitalization of $19.65 billion, a PE ratio of 18.166 and a beta of 1.35. The firm’s 50-day moving average is $84.45 and its 200 day moving average is $83.41. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $87.50.
A number of equities analysts recently weighed in on OMC shares. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Thursday, October 6th. RBC Capital Markets reissued a “hold” rating and issued a $87.00 price target on shares of Omnicom Group in a research note on Sunday, October 9th. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research note on Sunday, July 17th. Albert Fried & Company reissued a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, Telsey Advisory Group lifted their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $82.64.
In related news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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