Mirabella Financial Services LLP Sells 73,015 Shares of Omnicom Group Inc. (NYSE:OMC)

Mirabella Financial Services LLP decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 61.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,386 shares of the business services provider’s stock after selling 73,015 shares during the quarter. Mirabella Financial Services LLP’s holdings in Omnicom Group were worth $4,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Omnicom Group in the 3rd quarter valued at approximately $258,000. Daiwa Securities Group Inc. increased its position in Omnicom Group by 20.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 25,825 shares of the business services provider’s stock valued at $2,670,000 after acquiring an additional 4,440 shares during the period. Summit Trail Advisors LLC raised its stake in shares of Omnicom Group by 1.8% during the third quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 113 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Omnicom Group by 55.1% in the third quarter. Larson Financial Group LLC now owns 8,161 shares of the business services provider’s stock worth $844,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its holdings in Omnicom Group by 3.5% in the third quarter. Sompo Asset Management Co. Ltd. now owns 3,870 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $421,160.00. Following 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 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OMC shares. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered 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. Macquarie upped their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target 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, Barclays lifted their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Performance

Shares of OMC opened at $102.38 on Monday. Omnicom Group Inc. has a one year low of $78.90 and a one year high of $107.00. The company has a market cap of $19.98 billion, a PE ratio of 13.99, a P/E/G ratio of 2.30 and a beta of 0.95. The stock has a 50-day moving average of $102.25 and a 200-day moving average of $96.79. 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 (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $1.86 EPS. On average, equities research analysts predict that Omnicom Group Inc. will post 7.94 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.