KBC Group NV Buys 5,286 Shares of Omnicom Group Inc. (NYSE:OMC)

KBC Group NV increased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,101 shares of the business services provider's stock after buying an additional 5,286 shares during the period. KBC Group NV owned 0.05% of Omnicom Group worth $10,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schrum Private Wealth Management LLC bought a new stake in shares of Omnicom Group during the third quarter worth about $238,000. Pinnacle Financial Partners Inc increased its holdings in Omnicom Group by 0.9% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 184,751 shares of the business services provider's stock worth $19,101,000 after purchasing an additional 1,622 shares in the last quarter. Chase Investment Counsel Corp raised its stake in shares of Omnicom Group by 7.4% in the third quarter. Chase Investment Counsel Corp now owns 4,522 shares of the business services provider's stock worth $467,000 after purchasing an additional 310 shares during the last quarter. Proactive Wealth Strategies LLC purchased a new stake in shares of Omnicom Group in the third quarter worth approximately $338,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Omnicom Group by 2.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 490,104 shares of the business services provider's stock valued at $50,672,000 after purchasing an additional 9,864 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an "underperform" rating in a research note on Thursday, September 5th. Wells Fargo & Company downgraded 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 research note on Wednesday, October 16th. Macquarie increased their price target on Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Barclays boosted 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 analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Omnicom Group presently has a consensus rating of "Moderate Buy" and an average target price of $110.11.

Omnicom Group Price Performance

NYSE:OMC traded down $8.18 during trading hours on Friday, hitting $96.86. 9,315,200 shares of the company's stock traded hands, compared to its average volume of 1,353,318. The firm has a market cap of $18.90 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.18 and a beta of 0.95. 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 business's fifty day simple moving average is $102.16 and its two-hundred day simple moving average is $96.54. Omnicom Group Inc. has a 52 week low of $76.90 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the company's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value 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 approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.