QRG Capital Management Inc. Purchases 12,939 Shares of Omnicom Group Inc. (NYSE:OMC)

QRG Capital Management Inc. boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,031 shares of the business services provider’s stock after acquiring an additional 12,939 shares during the period. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Resonant Capital Advisors LLC grew its holdings in shares of Omnicom Group by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after buying an additional 97 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Omnicom Group by 17.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after acquiring an additional 97 shares during the period. Integrated Advisors Network LLC boosted its position in Omnicom Group by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after purchasing an additional 100 shares during the period. Iowa State Bank boosted its holdings in shares of Omnicom Group by 0.4% during the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock worth $2,528,000 after buying an additional 101 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock worth $514,000 after acquiring an additional 102 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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 0.00 % 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. 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 value of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred 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 owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Macquarie upped their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays raised their target price 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 assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $103.18 on Wednesday. The business has a 50-day simple moving average of $101.50 and a 200 day simple moving average of $96.08. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.27 and a beta of 0.95. 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 Inc. has a one year low of $74.41 and a one year high of $106.51.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion for 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 last year, the firm earned $1.86 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal 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.