ABLE Financial Group LLC Buys 1,878 Shares of Omnicom Group Inc. (NYSE:OMC)

ABLE Financial Group LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,907 shares of the business services provider’s stock after acquiring an additional 1,878 shares during the period. ABLE Financial Group LLC’s holdings in Omnicom Group were worth $1,231,000 as of its most recent SEC filing.

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

Omnicom Group Price Performance

Shares of NYSE OMC traded down $0.07 during midday trading on Friday, reaching $104.69. 181,104 shares of the stock traded hands, compared to its average volume of 1,514,571. The company’s 50 day moving average is $101.63 and its 200 day moving average is $96.14. Omnicom Group Inc. has a one year low of $74.41 and a one year high of $107.00. The stock has a market capitalization of $20.43 billion, a PE ratio of 14.31, a P/E/G ratio of 2.29 and a beta of 0.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 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 business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the company posted $1.86 EPS. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Insider Buying and Selling at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction 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 stock in a transaction dated Friday, October 18th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OMC shares. Macquarie boosted their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group upped their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note 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 stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America boosted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their target price 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 analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.