Omnicom Group Inc. (NYSE:OMC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Omnicom Group Inc. (NYSE:OMC) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,342 shares of the business services provider’s stock after selling 1,023 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Omnicom Group were worth $7,066,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group in the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new position in Omnicom Group in the second quarter valued at $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the third quarter valued at about $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group during the third quarter worth about $36,000. Finally, HM Payson & Co. grew its holdings in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 15,375 shares in the company, valued at $1,524,738.75. This represents 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 through the SEC website. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated 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 of the company’s stock, valued at approximately $2,479,053.05. This represents 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 company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OMC. Barclays increased 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. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Macquarie lifted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Performance

OMC opened at $104.40 on Tuesday. Omnicom Group Inc. has a 1-year low of $74.83 and a 1-year high of $107.00. The stock has a market cap of $20.37 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. The stock’s 50 day simple moving average is $101.83 and its 200 day simple moving average is $96.29. 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 announced its quarterly earnings results 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 business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter last year, the business posted $1.86 earnings per share. As a group, equities analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group 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.