Omnicom Group Inc. (NYSE:OMC) Shares Bought by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC increased its position in Omnicom Group Inc. (NYSE:OMC) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,560 shares of the business services provider’s stock after acquiring an additional 385 shares during the period. Ironwood Investment Counsel LLC’s holdings in Omnicom Group were worth $2,849,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp increased its stake 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 purchasing an additional 14,153 shares during the period. Central Pacific Bank Trust Division increased its position in Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 401 shares during the period. SG Americas Securities LLC raised its stake in Omnicom Group by 37.0% during the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after acquiring an additional 17,414 shares in the last quarter. Cetera Investment Advisers raised its stake in Omnicom Group by 197.4% during the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock valued at $12,338,000 after acquiring an additional 84,632 shares in the last quarter. Finally, Swedbank AB acquired a new position in Omnicom Group during the 1st quarter worth $6,223,000. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMC. Barclays raised their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective 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. Finally, Bank of America upped their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Up 0.5 %

Shares of NYSE:OMC opened at $104.82 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.34 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $79.68 and a 1-year high of $107.00. The company has a 50 day moving average price of $102.47 and a 200 day moving average price of $97.07.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the previous year, the firm posted $1.86 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

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.