Omnicom Group Inc. $OMC Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 3.0% during the 3rd quarter, Holdings Channel reports. The fund owned 738,665 shares of the business services provider’s stock after selling 22,540 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Omnicom Group were worth $54,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in OMC. Keating Financial Advisory Services Inc. acquired a new stake in Omnicom Group in the second quarter worth about $25,000. Clearstead Trust LLC bought a new position in Omnicom Group in the 2nd quarter valued at about $36,000. Raiffeisen Bank International AG increased its stake in Omnicom Group by 119.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 503 shares of the business services provider’s stock valued at $37,000 after buying an additional 274 shares during the period. Reyes Financial Architecture Inc. bought a new stake in shares of Omnicom Group during the 3rd quarter worth about $37,000. Finally, Compass Financial Management LLC bought a new stake in shares of Omnicom Group during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OMC shares. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Zacks Research upgraded Omnicom Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price target on Omnicom Group from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.67.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Omnicom Group Stock Performance

Shares of OMC stock opened at $82.98 on Wednesday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 8.51, a P/E/G ratio of 0.78 and a beta of 0.72. The stock’s fifty day simple moving average is $79.62 and its 200-day simple moving average is $78.29.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.06. Omnicom Group had a net margin of 2.85% and a return on equity of 24.67%. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business earned $2.24 EPS. The company’s revenue for the quarter was up 59.1% compared to the same quarter last year. On average, sell-side analysts predict that Omnicom Group Inc. will post 10.37 earnings per share for the current fiscal year.

Omnicom Group Company Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.