Victory Capital Management Inc. Sells 13,960 Shares of Omnicom Group Inc. (NYSE:OMC)

Victory Capital Management Inc. cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 499,389 shares of the business services provider’s stock after selling 13,960 shares during the period. Victory Capital Management Inc. owned about 0.26% of Omnicom Group worth $51,632,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Boston Partners lifted its position 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. Bank of New York Mellon Corp lifted its holdings in 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. Lazard Asset Management LLC lifted its holdings in Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after purchasing an additional 165,136 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after purchasing an additional 364,665 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.6 %

Shares of OMC opened at $105.04 on Friday. 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 stock has a market capitalization of $20.49 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Omnicom Group Inc. has a 1 year low of $76.90 and a 1 year high of $107.00. The business’s 50 day simple moving average is $102.09 and its 200-day simple moving average is $96.45.

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, beating 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 business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business earned $1.86 earnings per share. As a group, equities analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OMC. Macquarie lifted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays boosted their price objective on 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 cut Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.