Transamerica Financial Advisors Inc. Buys 9,255 Shares of Omnicom Group Inc. (NYSE:OMC)

Transamerica Financial Advisors Inc. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 569.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,881 shares of the business services provider’s stock after purchasing an additional 9,255 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Omnicom Group were worth $1,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Omnicom Group by 37.0% during the second 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 purchasing an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $56,177,000. Boston Partners boosted its holdings in shares of Omnicom Group by 11.0% during the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after buying an additional 364,665 shares during the period. Finally, Conning Inc. bought a new position in shares of Omnicom Group in the 2nd quarter worth about $32,484,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was 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 in the company, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Up 0.0 %

OMC stock opened at $104.63 on Wednesday. The stock has a market capitalization of $20.42 billion, a P/E ratio of 14.29, a P/E/G ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. Omnicom Group Inc. has a 1-year low of $78.90 and a 1-year high of $107.00. The business has a fifty day moving average price of $102.38 and a 200-day moving average price of $96.91.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS 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 the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the company earned $1.86 EPS. Equities analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on OMC. Macquarie upped 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. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, 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 report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

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.