Chevy Chase Trust Holdings LLC Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 115,442 shares of the business services provider’s stock after selling 2,024 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Omnicom Group were worth $11,936,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its holdings in shares of Omnicom Group by 52.6% during the 2nd quarter. Park Avenue Securities LLC now owns 10,038 shares of the business services provider’s stock valued at $900,000 after buying an additional 3,460 shares in the last quarter. CWM LLC boosted its holdings in shares of Omnicom Group by 2.1% during the 2nd quarter. CWM LLC now owns 55,210 shares of the business services provider’s stock valued at $4,952,000 after buying an additional 1,113 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of Omnicom Group by 46.8% during the 2nd quarter. Csenge Advisory Group now owns 10,202 shares of the business services provider’s stock valued at $915,000 after buying an additional 3,253 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $6,132,000. Finally, SG Americas Securities LLC boosted its holdings in shares of 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 buying an additional 17,414 shares in the last quarter. 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 the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction 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 represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of a number of research reports. UBS Group boosted their target price 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. Bank of America upped their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. 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 note on Thursday, October 17th. Finally, Macquarie upped their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $103.27 on Thursday. Omnicom Group Inc. has a fifty-two week low of $80.92 and a fifty-two week high of $107.00. The business has a 50-day simple moving average of $102.62 and a two-hundred day simple moving average of $97.23. 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 firm has a market cap of $20.15 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued 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. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, analysts expect 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.