Benjamin Edwards Inc. Grows Stock Position in Omnicom Group Inc. (NYSE:OMC)

Benjamin Edwards Inc. raised its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 8,314.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,615 shares of the business services provider's stock after purchasing an additional 20,370 shares during the period. Benjamin Edwards Inc.'s holdings in Omnicom Group were worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Boston Trust Walden Corp increased its position in Omnicom Group by 8.2% during 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 period. Central Pacific Bank Trust Division raised its stake in shares of Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider's stock worth $295,000 after acquiring an additional 401 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Omnicom Group by 37.0% during the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider's stock worth $5,784,000 after purchasing an additional 17,414 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Omnicom Group by 2.0% during the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider's stock worth $50,562,000 after purchasing an additional 9,774 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Omnicom Group by 40.9% in the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider's stock worth $3,077,000 after acquiring an additional 8,643 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OMC shares. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a report on Thursday, September 5th. Wells Fargo & Company lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Barclays boosted their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. UBS Group lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a report 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. According to MarketBeat, Omnicom Group currently has a consensus rating of "Moderate Buy" and an average price target of $110.11.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction 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 of the company's stock, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Omnicom Group Trading Down 0.1 %

NYSE OMC traded down $0.13 on Thursday, reaching $103.14. The stock had a trading volume of 1,101,735 shares, compared to its average volume of 1,542,017. Omnicom Group Inc. has a 12-month low of $81.41 and a 12-month high of $107.00. The stock has a fifty day moving average price of $102.62 and a two-hundred day moving average price of $97.23. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. The company 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 quarter last year, the company posted $1.86 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group Company 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.