Omnicom Group Inc. (NYSE:OMC) Stock Position Lifted by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC raised its stake in Omnicom Group Inc. (NYSE:OMC) by 1.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,560 shares of the business services provider’s stock after purchasing an additional 385 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Omnicom Group were worth $2,849,000 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. acquired a new position in shares of Omnicom Group in the second quarter worth $33,000. Innealta Capital LLC purchased a new stake in shares of Omnicom Group during the 2nd quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group during the 3rd quarter valued at about $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group during the 3rd quarter valued at about $36,000. Finally, HM Payson & Co. grew its stake in shares of Omnicom Group by 84.5% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other 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 transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Macquarie raised their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays increased their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Up 0.5 %

Shares of OMC stock opened at $104.82 on Friday. Omnicom Group Inc. has a 12 month low of $79.68 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 firm has a market cap of $20.45 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. The stock has a 50 day moving average of $102.47 and a 200-day moving average of $97.07.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results 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. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business posted $1.86 EPS. On average, equities analysts predict that Omnicom Group Inc. will post 7.94 EPS for the current year.

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.