Advisors Asset Management Inc. Cuts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Advisors Asset Management Inc. reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 81,745 shares of the business services provider’s stock after selling 1,836 shares during the period. Advisors Asset Management Inc.’s holdings in Omnicom Group were worth $8,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC increased its holdings in Omnicom Group by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock valued at $613,000 after buying an additional 97 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Omnicom Group by 17.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after acquiring an additional 97 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Omnicom Group by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after acquiring an additional 100 shares during the last quarter. Iowa State Bank boosted its holdings in shares of Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after purchasing an additional 101 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Omnicom Group by 2.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock valued at $514,000 after purchasing an additional 102 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OMC. UBS Group lifted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price 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. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, Bank of America boosted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Trading Up 1.1 %

Shares of NYSE:OMC opened at $99.08 on Thursday. The company has a 50 day moving average of $102.13 and a 200-day moving average of $96.66. The firm has a market cap of $19.33 billion, a P/E ratio of 13.54, a P/E/G ratio of 2.18 and a beta of 0.95. Omnicom Group Inc. has a twelve month low of $78.65 and a twelve month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This represents a 16.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.