Sumitomo Mitsui Trust Group Inc. Has $50.67 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,104 shares of the business services provider's stock after acquiring an additional 9,864 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Omnicom Group worth $50,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keystone Financial Services increased its position in shares of Omnicom Group by 7.0% in the third quarter. Keystone Financial Services now owns 4,046 shares of the business services provider's stock worth $418,000 after purchasing an additional 263 shares during the period. WCM Investment Management LLC acquired a new stake in Omnicom Group during the third quarter worth about $213,000. Versor Investments LP bought a new position in Omnicom Group in the 3rd quarter valued at about $355,000. Ashton Thomas Securities LLC acquired a new position in shares of Omnicom Group in the 3rd quarter valued at approximately $68,000. Finally, Arvest Investments Inc. lifted its holdings in shares of Omnicom Group by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 22,447 shares of the business services provider's stock worth $2,321,000 after acquiring an additional 207 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm's stock in a transaction dated 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 directly owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at $2,479,053.05. The trade was a 14.52 % 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 insiders.

Omnicom Group Trading Down 7.8 %

Shares of OMC stock traded down $8.18 during mid-day trading on Friday, reaching $96.86. 9,315,200 shares of the stock traded hands, compared to its average volume of 1,551,442. The stock's fifty day simple moving average is $102.16 and its two-hundred day simple moving average is $96.52. Omnicom Group Inc. has a 1-year low of $76.90 and a 1-year high of $107.00. 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 company has a market cap of $18.90 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results 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. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period last year, the company earned $1.86 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OMC. Bank of America lifted 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. UBS Group lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Macquarie lifted their target price 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, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $110.11.

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.