ABLE Financial Group LLC Purchases 1,878 Shares of Omnicom Group Inc. (NYSE:OMC)

ABLE Financial Group LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,907 shares of the business services provider’s stock after buying an additional 1,878 shares during the period. ABLE Financial Group LLC’s holdings in Omnicom Group were worth $1,231,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of Omnicom Group by 98.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,618 shares of the business services provider’s stock worth $1,898,000 after purchasing an additional 9,757 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Omnicom Group by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,041 shares of the business services provider’s stock worth $1,657,000 after buying an additional 420 shares during the last quarter. Quent Capital LLC raised its position in shares of Omnicom Group by 89.1% during the 1st quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock valued at $67,000 after buying an additional 326 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Omnicom Group by 30.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,543 shares of the business services provider’s stock worth $149,000 after acquiring an additional 359 shares during the last quarter. Finally, Empirical Finance LLC grew its position in Omnicom Group by 3.3% in the first quarter. Empirical Finance LLC now owns 7,461 shares of the business services provider’s stock worth $722,000 after acquiring an additional 239 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. UBS Group lifted 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. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America lifted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Trading Down 0.1 %

Shares of OMC stock traded down $0.07 during trading hours on Friday, reaching $104.69. The company’s stock had a trading volume of 181,104 shares, compared to its average volume of 1,514,571. 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 Inc. has a one year low of $74.41 and a one year high of $107.00. The stock has a market capitalization of $20.43 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.29 and a beta of 0.95. The firm’s fifty day simple moving average is $101.63 and its 200 day simple moving average is $96.14.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current 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.