Empirical Finance LLC Acquires 178 Shares of Omnicom Group Inc. (NYSE:OMC)

Empirical Finance LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 1.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,347 shares of the business services provider’s stock after acquiring an additional 178 shares during the period. Empirical Finance LLC’s holdings in Omnicom Group were worth $1,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in Omnicom Group by 7.7% during the third quarter. CIBC Asset Management Inc now owns 33,687 shares of the business services provider’s stock worth $3,483,000 after acquiring an additional 2,414 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Omnicom Group by 7.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,944 shares of the business services provider’s stock worth $511,000 after purchasing an additional 325 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Omnicom Group by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 6,302 shares of the business services provider’s stock worth $652,000 after purchasing an additional 120 shares during the period. KBC Group NV raised its position in shares of Omnicom Group by 5.5% during the third quarter. KBC Group NV now owns 101,101 shares of the business services provider’s stock valued at $10,453,000 after buying an additional 5,286 shares during the last quarter. Finally, Schrum Private Wealth Management LLC bought a new stake in shares of Omnicom Group in the third quarter valued at about $238,000. 91.97% of the stock is owned by institutional investors.

Insider Activity at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 completion of the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of 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 14.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Trading Down 7.8 %

Shares of Omnicom Group stock opened at $96.86 on Friday. Omnicom Group Inc. has a 12-month low of $76.90 and a 12-month high of $107.00. 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. The company has a 50-day simple moving average of $102.16 and a 200 day simple moving average of $96.52. The company has a quick ratio of 0.86, a current ratio of 0.98 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 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The company 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. Research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. upped their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, Macquarie raised their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

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.