Victory Capital Management Inc. Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

Victory Capital Management Inc. lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 499,389 shares of the business services provider’s stock after selling 13,960 shares during the period. Victory Capital Management Inc.’s holdings in Omnicom Group were worth $51,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OMC. Jacobs Levy Equity Management Inc. grew its holdings in shares of Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after purchasing an additional 1,104,566 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Omnicom Group by 37.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after buying an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new position in Omnicom Group in the 2nd quarter worth about $56,177,000. Boston Partners increased its position in shares of Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the topic of several research analyst reports. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” 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 increased their target price for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Stock Up 1.6 %

NYSE:OMC opened at $105.04 on Friday. The company’s 50-day simple moving average is $102.09 and its 200-day simple moving average is $96.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. Omnicom Group Inc. has a fifty-two week low of $76.90 and a fifty-two week high of $107.00. The stock has a market capitalization of $20.49 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.33 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last announced its 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. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period last year, the firm earned $1.86 earnings per share. On average, equities analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Transactions at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group 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 sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was 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 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.