Victory Capital Management Inc. Sells 13,960 Shares of Omnicom Group Inc. (NYSE:OMC)

Victory Capital Management Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 499,389 shares of the business services provider's stock after selling 13,960 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Omnicom Group worth $51,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group during the third quarter worth about $33,000. Davis Capital Management bought a new stake in shares of Omnicom Group during the third quarter worth about $36,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group during the second quarter worth about $33,000. HM Payson & Co. increased its position in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock worth $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Omnicom Group during the second quarter worth about $33,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Insider Transactions at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the business's stock in a transaction dated Friday, October 18th. The shares were 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. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares in the company, valued at $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.

Analysts Set New Price Targets

OMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Bank of America upped their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research report on Thursday, September 5th. Barclays upped their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Finally, Macquarie increased their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. One 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.11.

Omnicom Group Stock Performance

Shares of OMC stock traded down $7.64 during trading on Friday, reaching $97.40. 3,563,605 shares of the company's stock traded hands, compared to its average volume of 1,525,534. The firm's 50-day moving average is $102.20 and its 200 day moving average is $96.51. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 1 year low of $76.90 and a 1 year high of $107.00. The company has a market capitalization of $19.00 billion, a P/E ratio of 13.80, a PEG ratio of 2.32 and a beta of 0.95.

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, beating analysts' consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.86 EPS. Equities research analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

Omnicom Group Company 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.