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Raymond James & Associates Cuts Holdings in Omnicom Group Inc. (NYSE:OMC)

Omnicom Group logo with Business Services background

Raymond James & Associates cut its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 403,978 shares of the business services provider's stock after selling 22,540 shares during the quarter. Raymond James & Associates owned approximately 0.21% of Omnicom Group worth $41,767,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OMC. Boston Trust Walden Corp lifted its stake 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 period. Norden Group LLC acquired a new stake in shares of Omnicom Group during the 1st quarter valued at about $1,860,000. Central Pacific Bank Trust Division increased its stake in shares of Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider's stock valued at $295,000 after purchasing an additional 401 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Omnicom Group in the 1st quarter worth about $1,534,000. Finally, SG Americas Securities LLC grew its stake in Omnicom Group by 37.0% in the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider's stock valued at $5,784,000 after acquiring an additional 17,414 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Down 0.3 %

Shares of NYSE:OMC traded down $0.31 during midday trading on Wednesday, reaching $100.72. 1,537,252 shares of the company's stock were exchanged, compared to its average volume of 1,533,673. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 2.39 and a beta of 0.94. The firm's 50 day simple moving average is $100.62 and its two-hundred day simple moving average is $95.41. Omnicom Group Inc. has a fifty-two week low of $73.58 and a fifty-two week high of $106.51.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data 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. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $1.86 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OMC has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Macquarie lifted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a report on Thursday, September 5th. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Finally, UBS Group upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.11.

Read Our Latest Research Report on OMC

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated 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 approximately $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on 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 in the company, valued at $2,479,053.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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