Carret Asset Management LLC Has $2.71 Million Stock Position in Omnicom Group Inc. (NYSE:OMC)

Carret Asset Management LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,203 shares of the business services provider’s stock after selling 512 shares during the quarter. Carret Asset Management LLC’s holdings in Omnicom Group were worth $2,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMC. Diversified Trust Co grew its holdings in shares of Omnicom Group by 17.2% during the 1st quarter. Diversified Trust Co now owns 39,239 shares of the business services provider’s stock valued at $3,797,000 after purchasing an additional 5,747 shares during the last quarter. Norden Group LLC bought a new stake in shares of Omnicom Group during the first quarter worth $1,860,000. First Trust Direct Indexing L.P. increased its holdings in shares of Omnicom Group by 9.6% during the first quarter. First Trust Direct Indexing L.P. now owns 5,589 shares of the business services provider’s stock worth $541,000 after buying an additional 490 shares in the last quarter. Mezzasalma Advisors LLC bought a new position in shares of Omnicom Group in the 1st quarter valued at $348,000. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Omnicom Group during the 1st quarter valued at $421,000. Institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the 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 approximately $2,479,053.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Price Performance

OMC stock opened at $100.52 on Friday. Omnicom Group Inc. has a 1 year low of $73.58 and a 1 year high of $106.51. The stock has a market capitalization of $19.69 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company’s 50-day moving average is $100.91 and its 200-day moving average is $95.54. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays upped their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Bank of America raised their price objective 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. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie raised their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.