MetLife Investment Management LLC Has $5.26 Million Stake in Omnicom Group Inc. (NYSE:OMC)

MetLife Investment Management LLC lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,834 shares of the business services provider’s stock after selling 1,357 shares during the quarter. MetLife Investment Management LLC’s holdings in Omnicom Group were worth $5,256,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OMC. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group in the 2nd quarter valued at about $33,000. Innealta Capital LLC bought a new stake in Omnicom Group in the second quarter worth approximately $33,000. Northwest Investment Counselors LLC acquired a new position in Omnicom Group in the third quarter valued at approximately $33,000. Davis Capital Management bought a new position in shares of Omnicom Group during the 3rd quarter worth approximately $36,000. Finally, HM Payson & Co. grew its position in shares of Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on OMC. Macquarie boosted 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. Bank of America upped their price objective 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. Barclays raised their target price on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped 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. Finally, Wells Fargo & Company cut 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. One 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’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred 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 owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

OMC stock opened at $104.82 on Friday. 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 business has a 50-day simple moving average of $102.47 and a two-hundred day simple moving average of $97.08. The company has a market capitalization of $20.45 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. Omnicom Group Inc. has a 52-week low of $79.68 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Research analysts expect that Omnicom Group Inc. will post 7.94 EPS 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.