Charles Schwab Investment Management Inc. Has $470.24 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

Charles Schwab Investment Management Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,548,188 shares of the business services provider’s stock after selling 49,718 shares during the period. Charles Schwab Investment Management Inc. owned about 2.33% of Omnicom Group worth $470,236,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Resonant Capital Advisors LLC raised its holdings in shares of Omnicom Group by 1.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after buying an additional 97 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Omnicom Group by 17.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after buying an additional 97 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Omnicom Group by 3.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after buying an additional 100 shares in the last quarter. Iowa State Bank raised 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 worth $2,528,000 after buying an additional 101 shares in the last quarter. Finally, Farther Finance Advisors LLC raised 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 worth $514,000 after buying an additional 102 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Up 3.0 %

NYSE:OMC opened at $102.06 on Friday. Omnicom Group Inc. has a 12-month low of $78.75 and a 12-month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $19.91 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.20 and a beta of 0.95. The stock’s fifty day simple moving average is $102.20 and its 200-day simple moving average is $96.70.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $1.86 EPS. Equities research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

OMC has been the subject of a number of recent analyst reports. 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 report on Wednesday, October 16th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Macquarie raised their price target on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, UBS Group raised their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research 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.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insider Transactions at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate 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.