Larson Financial Group LLC Purchases 2,900 Shares of Omnicom Group Inc. (NYSE:OMC)

Larson Financial Group LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 55.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,161 shares of the business services provider’s stock after purchasing an additional 2,900 shares during the quarter. Larson Financial Group LLC’s holdings in Omnicom Group were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Northwest Investment Counselors LLC bought a new position in shares of Omnicom Group during the third quarter valued at approximately $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group in the 3rd quarter worth approximately $36,000. Innealta Capital LLC bought a new position in Omnicom Group during the 2nd quarter valued at approximately $33,000. HM Payson & Co. raised its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group in the second quarter worth $33,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 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. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Macquarie raised their price objective 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. UBS Group upped their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their price target 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. Finally, Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One equities research 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. According to MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Trading Up 2.2 %

NYSE:OMC opened at $104.61 on Tuesday. The company has a 50 day simple moving average of $102.32 and a two-hundred day simple moving average of $96.85. The company has a market cap of $20.41 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12 month low of $78.90 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. 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 prior year, the business earned $1.86 earnings per share. Research analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

About Omnicom Group

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.