Omnicom Group Inc. (NYSE:OMC) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,751 shares of the business services provider’s stock after acquiring an additional 1,622 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Omnicom Group were worth $19,101,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Chase Investment Counsel Corp lifted its holdings in Omnicom Group by 7.4% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,522 shares of the business services provider’s stock valued at $467,000 after acquiring an additional 310 shares during the last quarter. Proactive Wealth Strategies LLC acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at $338,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Omnicom Group by 2.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 490,104 shares of the business services provider’s stock valued at $50,672,000 after acquiring an additional 9,864 shares during the last quarter. Keystone Financial Services lifted its stake 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 buying an additional 263 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in Omnicom Group during the 3rd quarter worth $213,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC opened at $103.83 on Wednesday. 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 stock has a market cap of $20.26 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.34 and a beta of 0.95. The business’s fifty day moving average is $102.00 and its 200 day moving average is $96.40. Omnicom Group Inc. has a 12-month low of $74.83 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business earned $1.86 earnings per share. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Activity

In related 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 sale, 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 filing with the SEC, which is available at this hyperlink. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the 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 directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays raised their price target 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. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group increased their price target 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. JPMorgan Chase & Co. upped their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.