Arcadia Investment Management Corp MI Has $752,000 Stock Position in Omnicom Group Inc. (NYSE:OMC)

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Arcadia Investment Management Corp MI reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,600 shares of the business services provider’s stock after selling 2,600 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Omnicom Group were worth $752,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its stake in shares of Omnicom Group by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 30,462 shares of the business services provider’s stock worth $2,496,000 after purchasing an additional 131 shares during the last quarter. 6 Meridian raised its stake in shares of Omnicom Group by 2.1% in the second quarter. 6 Meridian now owns 6,530 shares of the business services provider’s stock worth $535,000 after purchasing an additional 137 shares during the last quarter. Kings Point Capital Management raised its stake in shares of Omnicom Group by 47.0% in the second quarter. Kings Point Capital Management now owns 441 shares of the business services provider’s stock worth $36,000 after purchasing an additional 141 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Omnicom Group by 0.9% in the third quarter. World Asset Management Inc now owns 16,404 shares of the business services provider’s stock valued at $1,284,000 after acquiring an additional 142 shares in the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Omnicom Group by 3.4% in the third quarter. OLD National Bancorp IN now owns 4,809 shares of the business services provider’s stock valued at $377,000 after acquiring an additional 157 shares in the last quarter.

In other Omnicom Group news, CAO Andrew Castellaneta sold 3,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $75.78, for a total transaction of $227,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

OMC has been the subject of several recent analyst reports. BMO Capital Markets lowered Omnicom Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $88.00 to $86.00 in a report on Sunday, July 14th. Wells Fargo & Co initiated coverage on Omnicom Group in a report on Monday, September 23rd. They issued a “market perform” rating and a $81.00 target price for the company. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a report on Monday, October 14th. ValuEngine raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Monday. Finally, Barclays set a $84.00 target price on Omnicom Group and gave the company a “hold” rating in a report on Friday, September 27th. Seven analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $82.50.

OMC stock opened at $76.47 on Wednesday. The firm has a market cap of $16.41 billion, a PE ratio of 13.30, a P/E/G ratio of 2.50 and a beta of 0.71. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.94. The business has a 50 day moving average of $77.27 and a 200-day moving average of $78.95. Omnicom Group Inc. has a 12-month low of $68.58 and a 12-month high of $85.05.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. Omnicom Group had a return on equity of 44.02% and a net margin of 8.88%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company posted $1.32 earnings per share. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 6.02 earnings per share for the current year.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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