Proactive Wealth Strategies LLC Acquires Shares of 3,266 Omnicom Group Inc. (NYSE:OMC)

Proactive Wealth Strategies LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,266 shares of the business services provider’s stock, valued at approximately $338,000.

A number of other hedge funds also recently bought and sold shares of the business. Boston Partners increased its holdings in shares of Omnicom Group by 11.0% during the 1st 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 holdings in shares of 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 worth $296,717,000 after buying an additional 892,494 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after buying an additional 165,136 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Omnicom Group by 4.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after buying an additional 109,406 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $205,682,000 after buying an additional 364,665 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Stock Down 0.1 %

Shares of NYSE:OMC opened at $104.40 on Tuesday. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.35 and a beta of 0.95. The firm’s 50-day simple moving average is $101.91 and its 200-day simple moving average is $96.35. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a fifty-two week low of $74.83 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the firm earned $1.86 earnings per share. As a group, equities research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Company 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.