Omnicom Group Inc. (NYSE:OMC) Holdings Cut by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 7,510 shares of the business services provider’s stock after selling 1,635 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Omnicom Group were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in OMC. Boston Trust Walden Corp grew its stake in Omnicom Group by 8.2% during the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after buying an additional 14,153 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after acquiring an additional 401 shares during the period. SG Americas Securities LLC lifted its position in Omnicom Group by 37.0% in the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after purchasing an additional 17,414 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Omnicom Group by 2.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 238,274 shares of the business services provider’s stock valued at $23,079,000 after purchasing an additional 5,615 shares during the period. Finally, Cetera Investment Advisers grew its position in Omnicom Group by 197.4% in the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after purchasing an additional 84,632 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America lifted 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. Barclays boosted their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Buying and Selling at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available 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 sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Price Performance

Omnicom Group stock traded up $0.66 during midday trading on Thursday, hitting $104.00. The company’s stock had a trading volume of 97,398 shares, compared to its average volume of 1,510,599. Omnicom Group Inc. has a 12 month low of $76.90 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 company has a market capitalization of $20.29 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The stock’s 50-day moving average price is $102.09 and its 200-day moving average price is $96.45.

Omnicom Group (NYSE:OMC) last released its earnings results 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 for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm earned $1.86 EPS. Analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal 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.