Commerce Bank Has $6.42 Million Position in Omnicom Group Inc. (NYSE:OMC)

Commerce Bank reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,047 shares of the business services provider’s stock after selling 2,223 shares during the quarter. Commerce Bank’s holdings in Omnicom Group were worth $6,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group during the 2nd quarter worth about $33,000. Innealta Capital LLC acquired a new stake in Omnicom Group during the second quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group during the third quarter worth approximately $33,000. Davis Capital Management acquired a new position in shares of Omnicom Group in the third quarter valued at approximately $36,000. Finally, HM Payson & Co. increased its stake 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 purchasing an additional 169 shares during the period. 91.97% of the stock is owned by institutional investors.

Insider Activity

In related 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 sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’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 owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 16.33 % 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 Ratings Changes

Several research firms recently issued reports on OMC. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Macquarie upped their price target 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. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays increased their target price 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. Finally, Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One equities research 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Stock Up 3.0 %

Shares of OMC opened at $102.06 on Friday. The firm has a 50 day simple moving average of $102.20 and a two-hundred day simple moving average of $96.70. 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 $78.75 and a one year high of $107.00. The company has a market cap of $19.91 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.20 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the company earned $1.86 EPS. Research analysts forecast that Omnicom Group Inc. will post 7.94 EPS 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.