Deseret Mutual Benefit Administrators Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Deseret Mutual Benefit Administrators reduced its position in Omnicom Group Inc. (NYSE:OMC) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,903 shares of the business services provider’s stock after selling 348 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Omnicom Group were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Omnicom Group by 124.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,655 shares of the business services provider’s stock valued at $8,127,000 after purchasing an additional 49,768 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Omnicom Group by 98.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,618 shares of the business services provider’s stock valued at $1,898,000 after buying an additional 9,757 shares in the last quarter. Nordea Investment Management AB grew its stake in Omnicom Group by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,041 shares of the business services provider’s stock valued at $1,657,000 after acquiring an additional 420 shares during the period. Quent Capital LLC grew its stake in Omnicom Group by 89.1% in the 1st quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 326 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Omnicom Group by 12.0% during the first quarter. Daiwa Securities Group Inc. now owns 19,728 shares of the business services provider’s stock worth $1,909,000 after acquiring an additional 2,113 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the 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 in the company, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Andrew Castellaneta sold 4,000 shares of the company’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 value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on OMC shares. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. 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 report on Wednesday, October 16th. Finally, Macquarie increased their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Up 1.8 %

Shares of OMC opened at $105.06 on Thursday. Omnicom Group Inc. has a 52-week low of $74.41 and a 52-week 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 stock has a fifty day simple moving average of $101.63 and a two-hundred day simple moving average of $96.14. The company has a market capitalization of $20.50 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data 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. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period last year, the business earned $1.86 earnings per share. As a group, equities analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current 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.