Carret Asset Management LLC Has $2.71 Million Stake in Omnicom Group Inc. (NYSE:OMC)

Carret Asset Management LLC lowered its holdings in Omnicom Group Inc. (NYSE:OMC) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,203 shares of the business services provider’s stock after selling 512 shares during the period. Carret Asset Management LLC’s holdings in Omnicom Group were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Boston Trust Walden Corp increased its position in shares of Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after acquiring an additional 14,153 shares during the last quarter. Norden Group LLC acquired a new position in shares of Omnicom Group during the 1st quarter worth approximately $1,860,000. Central Pacific Bank Trust Division raised its stake in shares of Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after purchasing an additional 401 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $1,534,000. Finally, SG Americas Securities LLC grew its stake in shares of Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after buying an additional 17,414 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OMC has been the topic of several analyst reports. Barclays upped their price target 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. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Macquarie lifted their price target on 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 objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America lifted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Performance

NYSE:OMC opened at $100.52 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $100.91 and a 200 day simple moving average of $95.54. Omnicom Group Inc. has a 1-year low of $73.58 and a 1-year high of $106.51. The stock has a market cap of $19.69 billion, a P/E ratio of 13.58, a PEG ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Insiders Place Their Bets

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

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.