Sumitomo Mitsui Trust Group Inc. Buys 9,864 Shares of Omnicom Group Inc. (NYSE:OMC)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 490,104 shares of the business services provider’s stock after buying an additional 9,864 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Omnicom Group were worth $50,672,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Boston Trust Walden Corp lifted its stake in shares of Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after buying an additional 14,153 shares during the period. Central Pacific Bank Trust Division lifted its stake in shares of Omnicom Group by 16.3% in the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after buying an additional 401 shares during the period. SG Americas Securities LLC lifted its stake in shares of Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after buying an additional 17,414 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Omnicom Group by 2.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 238,274 shares of the business services provider’s stock valued at $23,079,000 after buying an additional 5,615 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Omnicom Group by 197.4% in the first quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock valued at $12,338,000 after buying an additional 84,632 shares during the period. Institutional investors own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction 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 directly owns 15,375 shares of the company’s stock, 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 company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. 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 note on Wednesday, October 16th. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. 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, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Performance

NYSE:OMC opened at $96.86 on Friday. Omnicom Group Inc. has a 1 year low of $76.90 and a 1 year high of $107.00. The firm has a 50 day moving average of $102.20 and a 200-day moving average of $96.51. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $18.90 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued 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 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 quarter last year, the business posted $1.86 earnings per share. As a group, sell-side analysts anticipate 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.