BNP Paribas Financial Markets Grows Stake in Omnicom Group Inc. (NYSE:OMC)

BNP Paribas Financial Markets raised its stake in Omnicom Group Inc. (NYSE:OMC) by 16.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,216 shares of the business services provider’s stock after acquiring an additional 97,661 shares during the period. BNP Paribas Financial Markets owned approximately 0.36% of Omnicom Group worth $71,878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OMC. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group during the second quarter valued at $33,000. Innealta Capital LLC bought a new position in shares of Omnicom Group during the second quarter valued at $33,000. Northwest Investment Counselors LLC bought a new position in shares of Omnicom Group during the third quarter valued at $33,000. Davis Capital Management bought a new position in shares of Omnicom Group during the third quarter valued at $36,000. Finally, HM Payson & Co. lifted its holdings in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 169 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Omnicom Group

In related news, 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 transaction 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 approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on OMC. JPMorgan Chase & Co. increased their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays increased their target price on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Price Performance

NYSE:OMC opened at $104.35 on Thursday. The business’s 50-day simple moving average is $102.42 and its two-hundred day simple moving average is $96.96. Omnicom Group Inc. has a 52 week low of $78.90 and a 52 week high of $107.00. The stock has a market cap of $20.36 billion, a PE ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. 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 issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the company earned $1.86 EPS. As a group, analysts forecast 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.