Glenmede Trust Co. NA Cuts Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Glenmede Trust Co. NA decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,783 shares of the business services provider’s stock after selling 13,941 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.21% of Omnicom Group worth $42,057,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Boston Trust Walden Corp increased its position in shares of Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 14,153 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Omnicom Group by 16.3% in the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after buying an additional 401 shares during the last quarter. SG Americas Securities LLC raised its stake in Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after buying an additional 17,414 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Omnicom Group by 197.4% during the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after buying an additional 84,632 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Omnicom Group during the 1st quarter worth about $6,223,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

Shares of OMC stock opened at $104.63 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12-month low of $78.90 and a 12-month high of $107.00. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The stock has a 50 day simple moving average of $102.38 and a 200-day simple moving average of $96.91.

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 return on equity of 36.59% and a net margin of 9.45%. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current year.

Analyst Upgrades and Downgrades

OMC has been the topic of several research analyst reports. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Macquarie upped their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company’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 sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

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.