Chase Investment Counsel Corp Increases Holdings in Omnicom Group Inc. (NYSE:OMC)

Chase Investment Counsel Corp increased its position in Omnicom Group Inc. (NYSE:OMC) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,522 shares of the business services provider’s stock after acquiring an additional 310 shares during the quarter. Chase Investment Counsel Corp’s holdings in Omnicom Group were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Boston Trust Walden Corp lifted its stake in shares of Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 14,153 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after acquiring an additional 401 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Omnicom Group by 37.0% during the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after acquiring an additional 17,414 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Omnicom Group by 2.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 238,274 shares of the business services provider’s stock worth $23,079,000 after purchasing an additional 5,615 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Omnicom Group by 197.4% in the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after purchasing an additional 84,632 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Bank of America upped their price target 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 downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price 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 boosted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group raised their target price on shares of 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 given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, 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 company insiders.

Omnicom Group Price Performance

OMC opened at $103.83 on Wednesday. The business has a fifty day moving average of $102.00 and a 200 day moving average of $96.40. The stock has a market cap of $20.26 billion, a P/E ratio of 14.18, a PEG ratio of 2.34 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 52-week low of $74.83 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last posted 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 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 quarter last year, the firm posted $1.86 EPS. As a group, sell-side analysts anticipate 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.