Omnicom Group Inc. (NYSE:OMC) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,783 shares of the business services provider’s stock after selling 13,941 shares during the period. Glenmede Trust Co. NA’s holdings in Omnicom Group were worth $42,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of OMC. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Innealta Capital LLC acquired a new position in shares of Omnicom Group in the second quarter worth $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the third quarter valued at $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group during the third quarter valued at $36,000. Finally, HM Payson & Co. increased its position in Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s 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 directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Omnicom Group Stock Up 0.0 %

OMC opened at $104.63 on Wednesday. Omnicom Group Inc. has a 1 year low of $78.90 and a 1 year high of $107.00. The firm has a 50 day moving average price of $102.38 and a 200 day moving average price of $96.91. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market cap of $20.42 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 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 the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $1.86 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OMC shares. Barclays upped their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Macquarie lifted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company cut 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, 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.