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

Thrivent Financial for Lutherans boosted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 40.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,750 shares of the business services provider's stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OMC. Boston Partners raised its holdings in Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider's stock worth $374,795,000 after buying an additional 383,560 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider's stock worth $296,717,000 after acquiring an additional 892,494 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Omnicom Group by 4.8% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider's stock valued at $205,682,000 after purchasing an additional 364,665 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Omnicom Group by 6.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider's stock worth $127,398,000 after purchasing an additional 81,598 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

OMC traded up $0.03 on Tuesday, reaching $104.63. The company had a trading volume of 1,049,939 shares, compared to its average volume of 1,555,407. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. Omnicom Group Inc. has a 52-week low of $78.90 and a 52-week high of $107.00. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.30 and a beta of 0.95. The business has a 50 day simple moving average of $102.32 and a 200 day simple moving average of $96.85.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm posted $1.86 EPS. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OMC has been the topic of several analyst reports. Macquarie lifted their target price on Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a research 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 boosted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target 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 research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.11.

About Omnicom Group

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.