BNP Paribas Financial Markets Purchases 97,661 Shares of Omnicom Group Inc. (NYSE:OMC)

BNP Paribas Financial Markets boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 695,216 shares of the business services provider’s stock after buying an additional 97,661 shares during the period. BNP Paribas Financial Markets’ holdings in Omnicom Group were worth $71,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group during the second quarter valued at approximately $33,000. Innealta Capital LLC bought a new position in Omnicom Group during the second quarter valued at approximately $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group during the third quarter valued at approximately $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter valued at approximately $36,000. Finally, HM Payson & Co. boosted its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OMC. Wells Fargo & Company lowered 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 research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Macquarie raised their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised 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. Finally, Barclays raised their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. 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, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on 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 $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Price Performance

Shares of OMC stock opened at $104.35 on Thursday. Omnicom Group Inc. has a 52-week low of $78.90 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market capitalization of $20.36 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. The stock has a 50 day moving average price of $102.42 and a 200 day moving average price of $96.96.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $1.86 EPS. As a group, sell-side analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

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.