Cerity Partners LLC Boosts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Cerity Partners LLC grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 47.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,598 shares of the business services provider’s stock after purchasing an additional 15,631 shares during the quarter. Cerity Partners LLC’s holdings in Omnicom Group were worth $5,030,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Omnicom Group during the second quarter worth about $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC purchased a new position in Omnicom Group in the third quarter valued at approximately $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter valued at $36,000. Finally, HM Payson & Co. increased its position in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Down 0.3 %

OMC opened at $104.35 on Friday. The firm has a market capitalization of $20.36 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. Omnicom Group Inc. has a one year low of $78.90 and a one year high of $107.00. The company has a fifty day moving average price of $102.42 and a 200-day moving average price of $97.01. 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 (NYSE:OMC) last posted 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 return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the business earned $1.86 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the company’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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on OMC. UBS Group increased 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. Barclays increased their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted 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 raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, Macquarie boosted their target price 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 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. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average 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.