Omnicom Group Inc. (NYSE:OMC) Shares Sold by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 34.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 866 shares of the business services provider’s stock after selling 458 shares during the period. Abich Financial Wealth Management LLC’s holdings in Omnicom Group were worth $90,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Omnicom Group during the second quarter worth $33,000. Innealta Capital LLC acquired a new stake in Omnicom Group in the 2nd quarter valued at approximately $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group in the third quarter valued at $33,000. Davis Capital Management acquired a new position in Omnicom Group in the 3rd quarter valued at about $36,000. Finally, Richardson Financial Services Inc. raised its holdings in Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OMC. Macquarie lifted their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Barclays increased their target price 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 Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Activity

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction 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 Omnicom Group stock in a transaction 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 transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents 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 Price Performance

Shares of OMC traded down $0.25 during trading hours on Tuesday, reaching $102.25. 87,139 shares of the company traded hands, compared to its average volume of 1,523,273. The stock has a fifty day simple moving average of $101.02 and a 200 day simple moving average of $95.64. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $20.02 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. 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) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. As a group, research analysts predict that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

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.