White Pine Investment CO reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.5% during the third quarter, Holdings Channel reports. The firm owned 2,459 shares of the company’s stock after selling 200 shares during the period. White Pine Investment CO’s holdings in Omnicom Group were worth $209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. increased its position in shares of Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the period. Global X Management Co. LLC boosted its stake in Omnicom Group by 129.1% in the third quarter. Global X Management Co. LLC now owns 1,361 shares of the company’s stock worth $116,000 after buying an additional 767 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Omnicom Group during the third quarter worth about $122,000. Trust Department MB Financial Bank N A boosted its stake in Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares in the last quarter. Finally, City Holding Co. boosted its stake in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares in the last quarter. 95.24% of the stock is owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 88.47 on Monday. The company’s 50 day moving average is $82.07 and its 200 day moving average is $83.06. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 18.96 and a beta of 1.25. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $88.79.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.03. The company earned $3.79 billion during the quarter, compared to analyst estimates of $3.80 billion. Omnicom Group had a net margin of 7.32% and a return on equity of 39.38%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
OMC has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, October 6th. Pivotal Research raised their target price on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, October 17th. RBC Capital Markets restated a “hold” rating and set a $87.00 target price on shares of Omnicom Group in a research note on Sunday, October 9th. Credit Suisse Group AG initiated coverage on shares of Omnicom Group in a research note on Thursday, September 15th. They set a “neutral” rating and a $83.00 target price for the company. Finally, Royal Bank Of Canada initiated coverage on shares of Omnicom Group in a research note on Friday, October 7th. They set a “sector perform” rating and a $87.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $83.86.
In related news, Treasurer Dennis E. Hewitt sold 1,000 shares of the stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $79.57, for a total transaction of $79,570.00. Following the completion of the transaction, the treasurer now owns 38,075 shares in the company, valued at $3,029,627.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.