Avitas Wealth Management LLC Acquires 196 Shares of Omnicom Group Inc. (NYSE:OMC)

Avitas Wealth Management LLC boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,486 shares of the business services provider’s stock after purchasing an additional 196 shares during the period. Avitas Wealth Management LLC’s holdings in Omnicom Group were worth $1,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Norden Group LLC bought a new position in Omnicom Group during the first quarter valued at approximately $1,860,000. First Trust Direct Indexing L.P. raised its position in 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 valued at $541,000 after acquiring an additional 490 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Omnicom Group by 18.6% in the first quarter. Van ECK Associates Corp now owns 80,128 shares of the business services provider’s stock valued at $7,754,000 after purchasing an additional 12,577 shares during the period. Mission Wealth Management LP bought a new position in shares of Omnicom Group in the first quarter valued at approximately $243,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Omnicom Group by 124.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,655 shares of the business services provider’s stock valued at $8,127,000 after purchasing an additional 49,768 shares during the period. Institutional investors own 91.97% of the company’s stock.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The trade was 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 other news, CAO Andrew Castellaneta sold 4,000 shares of the business’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 sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 0.7 %

OMC opened at $102.37 on Thursday. Omnicom Group Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $106.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The firm’s fifty day moving average price is $101.23 and its two-hundred day moving average price is $95.76. The company has a market capitalization of $19.97 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its quarterly 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 net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. On average, analysts anticipate that Omnicom Group Inc. will post 7.88 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OMC. Barclays lifted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. 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 research note 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.11.

About Omnicom Group

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.