Omnicom Group Inc. (NYSE:OMC) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,612 shares of the business services provider’s stock after selling 405 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Omnicom Group were worth $787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in Omnicom Group during the third quarter worth $33,000. Davis Capital Management purchased a new stake in Omnicom Group during the 3rd quarter worth about $36,000. Innealta Capital LLC acquired a new position in Omnicom Group in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Omnicom Group in the 2nd quarter valued at about $33,000. Finally, Richardson Financial Services Inc. lifted its holdings in Omnicom Group by 66.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OMC. Bank of America increased their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie lifted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Performance

OMC opened at $100.45 on Friday. Omnicom Group Inc. has a twelve month low of $73.58 and a twelve month high of $106.51. The stock has a market cap of $19.67 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The business’s 50 day moving average is $100.75 and its 200-day moving average is $95.44. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. During the same period in the prior year, the business posted $1.86 EPS. On average, analysts predict that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Insider Activity at Omnicom Group

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. The trade was 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.

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.