SpiderRock Advisors LLC Buys 20,988 Shares of Omnicom Group Inc. (NYSE:OMC)

SpiderRock Advisors LLC raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 464.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,508 shares of the business services provider's stock after purchasing an additional 20,988 shares during the period. SpiderRock Advisors LLC's holdings in Omnicom Group were worth $2,637,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Boston Partners lifted its holdings in shares of Omnicom Group by 11.0% during the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider's stock valued at $374,795,000 after buying an additional 383,560 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider's stock valued at $296,717,000 after buying an additional 892,494 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider's stock valued at $269,734,000 after buying an additional 165,136 shares during the period. Cooke & Bieler LP lifted its holdings in shares of Omnicom Group by 4.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider's stock valued at $215,249,000 after buying an additional 109,406 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider's stock valued at $205,682,000 after buying an additional 364,665 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of Omnicom Group stock traded down $0.30 during trading on Friday, reaching $104.46. 1,470,538 shares of the stock traded hands, compared to its average volume of 1,427,926. The company has a market capitalization of $20.38 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.36 and a beta of 0.95. The business has a fifty day simple moving average of $101.83 and a two-hundred day simple moving average of $96.29. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. Omnicom Group Inc. has a 52-week low of $74.41 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly 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 company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter last year, the business posted $1.86 earnings per share. Sell-side analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm'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 owns 15,375 shares of the company's stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm'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 owns 15,375 shares of the company's stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the chief accounting officer now directly owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OMC. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the company an "underperform" rating in a report on Thursday, September 5th. Wells Fargo & Company cut 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 report on Wednesday, October 16th. Macquarie raised their price target on Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. One equities research 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. Based on data from MarketBeat, Omnicom Group currently 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.