First Horizon Advisors Inc. Purchases 7,295 Shares of Omnicom Group Inc. (NYSE:OMC)

First Horizon Advisors Inc. lifted its position in Omnicom Group Inc. (NYSE:OMC) by 3.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 223,167 shares of the business services provider’s stock after buying an additional 7,295 shares during the quarter. First Horizon Advisors Inc.’s holdings in Omnicom Group were worth $23,073,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OMC. Quent Capital LLC grew its stake in shares of Omnicom Group by 89.1% in the 1st quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock valued at $67,000 after buying an additional 326 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Omnicom Group by 13,957.7% in the 1st quarter. Acadian Asset Management LLC now owns 54,122 shares of the business services provider’s stock worth $5,234,000 after purchasing an additional 53,737 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in Omnicom Group by 12.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,166 shares of the business services provider’s stock worth $308,000 after purchasing an additional 359 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Omnicom Group by 2.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 238,274 shares of the business services provider’s stock worth $23,079,000 after purchasing an additional 5,615 shares during the last quarter. Finally, Natixis lifted its holdings in Omnicom Group by 94.9% in the 1st quarter. Natixis now owns 35,460 shares of the business services provider’s stock worth $3,431,000 after purchasing an additional 17,264 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OMC has been the subject of several analyst reports. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Barclays boosted their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie upped their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $106.00 to $110.00 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 issued a buy rating to the company. According to MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $98.04 on Wednesday. The business has a fifty day simple moving average of $102.12 and a 200 day simple moving average of $96.64. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.18 and a beta of 0.95. Omnicom Group Inc. has a one year low of $78.28 and a one year high of $107.00.

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. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the prior year, the company posted $1.86 earnings per share. Sell-side analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

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.