Raymond James & Associates Lowers Stake in Omnicom Group Inc. (NYSE:OMC)

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

Several other institutional investors have also recently added to or reduced their stakes in OMC. Iowa State Bank boosted its position in shares of Omnicom Group by 0.4% during the third quarter. Iowa State Bank now owns 24,447 shares of the business services provider's stock worth $2,528,000 after buying an additional 101 shares during the period. Center For Asset Management LLC boosted its holdings in Omnicom Group by 2.6% during the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider's stock valued at $384,000 after acquiring an additional 107 shares during the period. Park Avenue Securities LLC grew its position in Omnicom Group by 1.1% in the 3rd quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider's stock valued at $1,049,000 after acquiring an additional 113 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider's stock worth $413,000 after purchasing an additional 119 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Omnicom Group by 18.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider's stock worth $70,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target 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. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Macquarie boosted their target price on Omnicom Group from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price target on Omnicom Group from $87.00 to $89.00 and gave the company an "underperform" rating in a research report on Thursday, September 5th. One investment 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. According to data from MarketBeat.com, Omnicom Group currently has an average 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 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 sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business's stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 15,375 shares of the company's stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Omnicom Group Trading Down 2.5 %

NYSE:OMC opened at $101.03 on Wednesday. Omnicom Group Inc. has a 1 year low of $73.58 and a 1 year high of $106.51. The stock has a market cap of $19.79 billion, a P/E ratio of 13.65, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a 50-day simple moving average of $100.62 and a 200-day simple moving average of $95.41.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, analysts anticipate that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

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.