Continuum Advisory LLC Purchases 287 Shares of Omnicom Group Inc. (NYSE:OMC)

Continuum Advisory LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.8% in the third quarter, HoldingsChannel.com reports. The fund owned 3,965 shares of the business services provider’s stock after buying an additional 287 shares during the period. Continuum Advisory LLC’s holdings in Omnicom Group were worth $416,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OMC. LRI Investments LLC boosted its holdings in shares of Omnicom Group by 24.6% in the 3rd quarter. LRI Investments LLC now owns 2,903 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 574 shares in the last quarter. Drucker Wealth 3.0 LLC lifted its position in shares of Omnicom Group by 0.9% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 38,823 shares of the business services provider’s stock worth $4,014,000 after buying an additional 339 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Omnicom Group by 2.7% in the third quarter. Public Employees Retirement System of Ohio now owns 75,836 shares of the business services provider’s stock valued at $7,841,000 after buying an additional 2,021 shares in the last quarter. Groupama Asset Managment grew its position in Omnicom Group by 117.2% in the third quarter. Groupama Asset Managment now owns 10,234 shares of the business services provider’s stock valued at $1,058,000 after acquiring an additional 5,522 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Omnicom Group by 3.0% during the third quarter. MML Investors Services LLC now owns 58,372 shares of the business services provider’s stock worth $6,035,000 after acquiring an additional 1,674 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Barclays boosted their target price 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. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.89.

Omnicom Group Stock Down 0.4 %

Shares of OMC opened at $92.46 on Wednesday. The stock’s 50-day moving average price is $102.43 and its two-hundred day moving average price is $97.34. Omnicom Group Inc. has a 12 month low of $82.26 and a 12 month high of $107.00. The company has a market capitalization of $18.04 billion, a PE ratio of 12.63, a PEG ratio of 2.32 and a beta of 0.94. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

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

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

About Omnicom Group

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.