Pinnacle Financial Partners Inc Has $19.10 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Pinnacle Financial Partners Inc lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,751 shares of the business services provider’s stock after purchasing an additional 1,622 shares during the period. Pinnacle Financial Partners Inc owned approximately 0.09% of Omnicom Group worth $19,101,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Omnicom Group during the third quarter valued at approximately $33,000. Davis Capital Management bought a new position in shares of Omnicom Group in the 3rd quarter valued at about $36,000. Innealta Capital LLC acquired a new position in Omnicom Group in the 2nd quarter valued at about $33,000. HM Payson & Co. raised its stake in Omnicom Group by 84.5% in 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OMC. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. UBS Group raised their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” 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. According to data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Trading Down 0.5 %

Shares of OMC opened at $103.83 on Wednesday. The firm has a market cap of $20.26 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. Omnicom Group Inc. has a 1 year low of $74.83 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The company has a 50 day simple moving average of $102.00 and a two-hundred day simple moving average of $96.40.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during 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. On average, equities analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’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 sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 value 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 $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 SEC, which is available through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the 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 of the company’s stock, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.