Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,347 shares of the business services provider’s stock after acquiring an additional 178 shares during the period. Empirical Finance LLC’s holdings in Omnicom Group were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Resonant Capital Advisors LLC raised its position in shares of Omnicom Group by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after purchasing an additional 97 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position 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 valued at $66,000 after purchasing an additional 97 shares during the period. Integrated Advisors Network LLC raised its holdings in Omnicom Group by 3.8% during 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 during the period. Iowa State Bank lifted its stake in Omnicom Group by 0.4% during the third quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 101 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Omnicom Group by 2.1% in the third 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 during the period. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted 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. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Finally, Barclays raised their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Activity at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were 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 of the company’s stock, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the business’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 completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Down 7.8 %

Shares of Omnicom Group stock opened at $96.86 on Friday. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 2.32 and a beta of 0.95. The stock has a 50-day simple moving average of $102.16 and a 200-day simple moving average of $96.52. Omnicom Group Inc. has a 52-week low of $76.90 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $1.86 earnings per share. On average, equities research analysts expect 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.