Omnicom Group Inc. (NYSE:OMC) Shares Acquired by Citigroup Inc.

Citigroup Inc. lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 33.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,156 shares of the business services provider’s stock after purchasing an additional 71,681 shares during the period. Citigroup Inc. owned about 0.15% of Omnicom Group worth $29,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resonant Capital Advisors LLC lifted its holdings in Omnicom Group by 1.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after buying an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Omnicom Group by 17.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after purchasing an additional 97 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Omnicom Group by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after purchasing an additional 100 shares during the last quarter. Iowa State Bank increased its stake in Omnicom Group by 0.4% in the third quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after purchasing an additional 101 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock worth $514,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $104.61 on Tuesday. The stock has a fifty day moving average price of $102.32 and a 200 day moving average price of $96.85. Omnicom Group Inc. has a 1-year low of $78.90 and a 1-year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market cap of $20.41 billion, a PE ratio of 14.29, a P/E/G ratio of 2.30 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its earnings results 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. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business earned $1.86 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group 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 transaction of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays increased their target price 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. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group raised their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating to the company. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average price target 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.