MetLife Investment Management LLC Has $5.26 Million Stake in Omnicom Group Inc. (NYSE:OMC)

MetLife Investment Management LLC lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,834 shares of the business services provider’s stock after selling 1,357 shares during the quarter. MetLife Investment Management LLC’s holdings in Omnicom Group were worth $5,256,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group during the 2nd quarter worth $33,000. Innealta Capital LLC acquired a new stake in Omnicom Group during the second quarter worth about $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group in the 3rd quarter valued at about $33,000. Davis Capital Management bought a new position in Omnicom Group in the 3rd quarter valued at about $36,000. Finally, HM Payson & Co. raised its position in shares of Omnicom Group by 84.5% in the 3rd 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 in the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OMC. Macquarie lifted 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 lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Finally, Bank of America boosted 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Performance

NYSE:OMC opened at $104.82 on Friday. The stock’s 50-day moving average is $102.47 and its 200-day moving average is $97.08. Omnicom Group Inc. has a 1-year low of $79.68 and a 1-year high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock has a market cap of $20.45 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95.

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

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.